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Old 08-29-2008, 10:00 AM
 
2,437 posts, read 7,268,521 times
Reputation: 1512

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Quote:
Originally Posted by arabellava View Post
There is little love for Toll Brothers and the way they do business. They're like the mafia of construction..
Yeah, but their cookies aren't bad.
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Old 08-30-2008, 10:09 PM
 
1,134 posts, read 2,530,093 times
Reputation: 486
I love it, people do a bunch of stupid things and then blame gets thrown in all directions except at themselves.
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Old 01-06-2009, 06:47 AM
 
1 posts, read 2,908 times
Reputation: 10
We contracted with Toll in SC July 2007 and put a $34K deposit with them. We asked for a closing in Sept or Oct of 2008 which they agreed - Our home was on the market over 8 months but had not sold - our current home is drop dead gorgeous - even better than a Toll; however, the market was just awful!! Their construction is very shoddy for what I saw. We visited regularly. They sent us a letter 10 days before we were supposed to close, we never got any letter re a walk through or anything, just a letter to close- we called to let them know that our home had not sold and they said they would notify the closing attorney's- then we received a letter saying we were in default - we contacted the Project Manager and Sales Agent and they then said we could give them another $10K to delay closing for 3 months. However, they would not say whether we would get that $10K back - it was just a ploy to get more money from us - they made us go through their Mortgage company to get qualified and then they kept sending us financial documents with my husband's name misspelled - I kept telling them it was wrong, yet, they kept sending. We then got a letter saying we were in default and owed them another $20K for the note we signed within the contract - the agent told us not to worry about this note as we would not owe any money until we closed..... during the time it was being built they offered a $45K incentive to new buyers - we asked them to give that to us and they said it's not for people that already have contracts. We then said our house would not appraise at what others were selling at due to the downturn in housing and the economy - they told us that they could get it appraised. Does anyone have any suggestions or help for us - the house is in SC...........they call themselves a luxury builder, but you have to pay for all the luxury extra's - don't ever believe a word they say - don't sign one of their contracts until you get a lawyer in the State you are buying to consult before doing so.
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Old 01-26-2009, 07:23 AM
 
1 posts, read 2,818 times
Reputation: 10
Has anyone used a good lawyer to get out of one of their contracts?
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Old 01-27-2009, 08:29 PM
 
3,164 posts, read 6,118,809 times
Reputation: 1264
Wouldn't it be the same as breaking any other contract? If you agree to buy something, at a certain price, don't you have to honor that? Isn't that what a contract is all about? You agree to a certain price and they agree to sell it to you at that price? Would other things matter? Like not getting the price you want on our current house? (lower the price, housing is a market, like everything else) Or just changing your mind because you thought your current house was worth more than it is? I'm not a lawyer, but it seems like a contract is a contract, regardless.
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Old 01-27-2009, 08:34 PM
 
3,164 posts, read 6,118,809 times
Reputation: 1264
Quote:
Originally Posted by pa76 View Post
Folks,
We have tried our best to sell or rent the current house,no luck till now.The closing of the Toll house is in another one month.We also have got denial for the loan from our lenders as well. Any info to come out of this situation would be helpful.Is there any option for back out?
thanks.
Lower the price of your house. Every house sells when it is priced to the market in that area.
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Old 01-27-2009, 08:36 PM
 
3,164 posts, read 6,118,809 times
Reputation: 1264
Quote:
Originally Posted by pa76 View Post
our sale price is 50K below the market value.We have tried for rental options as well.
Sorry, but that's a contradiction in terms. The market is what someone will pay for your house. The value of your house is what someone is willing to pay for it. Since no is willing to pay what you are asking, you have over valued it and need to lower the price.
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Old 01-27-2009, 08:41 PM
 
3,164 posts, read 6,118,809 times
Reputation: 1264
Quote:
Originally Posted by tamitrail View Post
I'm confused by this question. If you defaulted on the contract, you owe them money.
Yeah. What you said. It's a contract. You must pay what you said you would pay.

Why is that concept so difficult for so many? Don't commit to what you can afford to buy. Don't commit to buy what you might not be able to afford.
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Old 02-02-2009, 05:37 PM
 
Location: MID ATLANTIC
7,723 posts, read 18,519,853 times
Reputation: 8382
I have a customer that took out a home equity line in 2007 to buy a Toll home. He gave them 70K for extras and when it was time to take delivery, their home hadn't sold, lost value and the new home most definitely had lost value, too, but of course the in-house mortgage company wasn't going to help them on that fight. They consulted an attorney and walked from the money. Now, I can't help them with the refi, it's a cash out w/ zero equity.

Another tragedy waiting to happen.
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Old 02-03-2009, 11:43 AM
 
9,738 posts, read 8,031,976 times
Reputation: 6343
Quote:
Originally Posted by bluecountry View Post
Toll Brothers....another greedy developer who has no respect for people or scenery.

Toll built them a CUSTOM house from the ground up with all the features they buyer wants and then wants to walk away. Who is greedy here again??

Toll has DOES NOT allow "contingency clauses" in their sales contracts. You are qualified at signing and you are held responsible for NOT wrecking you credit before closing.
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