No way to avoid revealing condo problems

'As is' sale still means disclosing all known problems

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

DEAR BOB: I own a very nice condo in what you might call a "bad complex." The board of directors is in constant turmoil. Our association reserve funds are inadequate so every time we need a major repair there is a special assessment of the owners. Of 42 units, 12 are now listed for sale. Fortunately, we have a rule the owners cannot post "for sale" signs, so prospective buyers don't know of all the units for sale. Fortunately, I took your advice and made only a 10 percent down payment when I purchased about four years ago, so I don't have much equity. But I am getting married and want to "move on" with my life. Is there any way I can advertise my condo for sale "as-is" to avoid revealing all the problems with the condo association? --Ken W. DEAR KEN: No. An "as-is" real estate sale means the seller must reveal all known problems with the property, such as those you described, but he does not have to pay for any repairs. Purchase Bob Bruss reports online. I suggest you list your condo ...