Toll Brothers Holding Firm, Toll’s Daughter Walks Away : The Real Estate Bloggers

Toll Brothers Holding Firm, Toll’s Daughter Walks Away

February 12th, 2008 • Related • Filed Under

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TollLogoThe Toll Brothers Inc. is in a public relations predicament. They have sold a home to the daughter of founder Bruce Toll. Now she has told the company that she is not planning on purchasing the  2 and a half million dollar home.

Yikes! It is bad enough that the company can not close many of the homes they are building for others, but you have to wonder how they could let a public relations disaster like this happen.

Heck, Bruce, ante up and buy the home for her and make this go away. Even if you hold the not on the home for a year and then sell it it will look much better than your own daughter telling you the home is not worth the investment in this market.

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.

A company spokesman was not immediately available for comment on the filing, which was made public on Friday. via Reuters.

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