Latest Walk-Away: Toll Brother Family Member
One of the Toll family members decided to walkaway from a condo purchase:
"Luxury builder Toll Brothers Inc (TOL), hurt as many buyers to try to get out of contracts for new homes amid falling prices, says a member of its founding family is trying to walk away from an agreement to buy a new condominium.
The daughter of Vice Chairman and co-founder Bruce Toll informed the company last month that she and her husband "did not intend to make settlement" on a $2.47 million home they had previously agreed to purchase, the company said in a regulatory filing.
Toll Brothers went on to say that it intends to pursue its rights under the agreement of sale with Toll's daughter, Wendy Topkis . . . The contract with Topkis was reached prior to fiscal 2007, it said. The location of the condo was not disclosed."
Fascinating!>
Source:
Toll relative walks away from new condo - filing
Reuters, Mon Feb 11, 2008 9:54am EST
http://www.reuters.com/article/marketsNews/idUKN1150816620080211?rpc=44
Monday, February 11, 2008 | 02:24 PM | Permalink
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Comments
Now how stupid is daddy Toll???
A few bucks to the daughter and this quietly goes away......or at the least it doesn't get splashed all over the entire internet.
And these people couldn't see it coming??
I'm starting to believe it..
Ciao
MS
Posted by: michael schumacher | Feb 11, 2008 2:28:18 PM
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