Looking to buy a house before June but need to sell my stock for down payment

Discussion in 'UPS Discussions' started by Cozz, Apr 9, 2013.

  1. Cozz

    Cozz New Member

    I went to the investor site and it says the window is closed. Anyone know where I can go to find out when it's open?

    I have been divorced for 3 years now and finally feel like my life is back on track. Found a wonderful girl that I want to marry and I want to get out of my apartment and buy a owner occupied investment property. My lease is up at the end of May and I'm in contact with a bank about mortgage financing. I have basically no debt but I need to sell my stock in order to have enough for a down payment and for the closing costs without having zero in savings. I have 96.5... shares of stock and I read that I need 100 to be able to sell it over the investor site.

    Can anyone give me some insight?
     
  2. ups hero

    ups hero Member

    Yes. If you have less than 100 shares , you will have to transfer them from class A to class B. I'm assuming they are class A. There is a 3 page sheet you have to print out. You can call ups stock share number and they will walk you through every step. I just did that yesterday. If you want the phone number, pm me. It's a simple process that they will walk you through.
     
  3. Anonymous 10

    Anonymous 10 Guest

    We need a pic of the lucky lady.
     
  4. konsole

    konsole Member

    Just think, if you were a High Frequency Trading program you could have that stock sold in a fraction of a second.
     
  5. Finner

    Finner New Member

    I would suspect that the "Window" does not apply to you. It does not mean that stock can not be sold. It only means that certain stock owners can not sell, until the window is open again.
     
  6. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Is the bank cool with you selling shares of stock for the down payment? I thought that you had to have the money in your account for a certain period of time before closing.
     
  7. superballs63

    superballs63 Well-Known Troll Troll

    The stock should be counted as an asset by the bank anyway, so that SHOULD be irrelevant
     
  8. DOK

    DOK Active Member

    You have to log in during Wall Street trading hours.
     
    Last edited: Apr 9, 2013
  9. Wally

    Wally Hailing from Parts Unknown.

    You can also borrow 401k money and pay yourself back. Don't know if that is a option for you, but it saves the gain taxes you would have to pay.
     
  10. Jackburton

    Jackburton Gone Fish'n

    I wouldn't make any large purchases until the contract is ratified.
     
  11. beentheredonethat

    beentheredonethat Well-Known Member

    The window is closed for those in groups 2, 3 or 4. Most district folks at the manager level or below are in group 1 (with the exception of finance people - I believe) So you can buy\sell during closed windows. You can only conduct business on the site during normal wall st hours. I believe that at less then 100 shares, yes you have to transfer the stock to another account (scottrade, etc where it is converted to class b). Then you can sell.
    Good luck on the house.
     
  12. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    So I shouldn't buy my new car next week?
     
  13. serenity now

    serenity now Guest

    how old is the car you are replacing?
     
  14. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    2010 Nissan Altima---replacing it with a 2013 Nissan Altima.
     
  15. bbsam

    bbsam Moderator Staff Member

    2.5 or 3.5?
     
  16. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    2.5 SV. Using VPP discount---leasing for $270/month for 3 years. Nissan has redesigned the Altima---the new ones challenge the Maxima. Remote start is standard. Back-up camera. Satellite radio. Bluetooth.
     
  17. bbsam

    bbsam Moderator Staff Member

    They are nice. My brother in law had one. Unfortunately he was rearended by a Ford pickup doing 50 mph. My 10 year old nephew was in the back seat. Thanks to modern automotive design they both walked away with minor whiplash.
     
  18. brownmonster

    brownmonster Man of Great Wisdom

    The purpose of having a down payment is borrowing less. Borrowing for a down payment defeats that purpose.
     
  19. rod

    rod retired and happy


    Factory remote starters usually suck. A lot of them have VERY limited range. Your lucky if it will work across the width of a street.
     
  20. brownboxman

    brownboxman Active Member

    I think it has been said very well on this board many times, do NOT make any major purchases in this time while the contract is not final. Of course there are exceptions. But nothing is for sure until the contract is ratified. Four months is not going to make any difference in what you want to buy.