cash in shares?

freda11

My daughter is buying her first house, offer has been accepted on a repossession no survey done yet, the company have now said they have a higher offer (over asking price), my daughter has now gone higher but she will need an extra £1k. I have some shares I will gladly cash in, the value of them at present is £1400 and I have just looked on iii investor and to trade them in I would get £1100 as of now. Would I be silly to cash them in at a low value? Also I am not sure what happens when you trade in, would I get a cheque for the £1100 from iii investor?

grey_gym_sock

do you have the shares in the form of a paper certificate, or in a iii nominee account, or in some other account?

Conrad

freda11 wrote: »

. Would I be silly to cash them in at a low value?

Also I am not sure what happens when you trade in, would I get a cheque for the £1100 from iii investor?

freda only you can answer question one as the motivation to accept a lower share price depdends entirely upon your current ambition for your daughter.
What is more valuable to you - your daughters well being or selling the shares for more? Only you can answer that one.

As to question 2, it's usually a cheque but to be sure you'd need to ask the dealing house what payment methods they employ.

freda11

Thanks guys, they are not paper shares they are held in iii.investor.
Your right Conrad which is more important? - my daughter is, so thats answered my question

grey_gym_sock

i think you can log into iii and transfer any cash to your bank account - not actually tried it with them, though.

for shares, settlement is generally T + 3, meaning the cash would be in your iii account 3 working days after selling them. and then the bank transfer might take a day or 2.

DannyboyMidlands

I wouldn't sell them - yet.

Chances are that "the other buyer" will offer another £1k more than your daughters revised offer and that this will keep going until your daughter says no more. At that point "the other buyer" will mysteriously "pull out".

I wouldn't offer this additional grand.

grey_gym_sock

yes, i'd hold off at least until a price is agreed.