| T.R | Title | User | Personal
Name | Date | Lines |
|---|
| 457.1 | Need a broker | KOALA::BOUCHARD | The enemy is wise | Thu Apr 22 1993 13:24 | 6 |
| The only way to avoid paying a commission to somebody is to sell it
privately - which I wouldn't suggest as a reasonable alternative.
Pick a discount broker that suits your needs, choose an account type
that doesn't involve a fee for opening the account, give them the
shares and have them make the sale.
|
| 457.2 | | SDSVAX::SWEENEY | Patrick Sweeney in New York | Thu Apr 22 1993 14:43 | 10 |
| A private sale will require a proof of signature that will cost you a
few bucks to get at most commerical banks. A notarized signature is
not sufficient. (A brokerage firm will typically guarantee the
signature.)
In a private sale, the endorsed certificate has to be presented to
transfer agent, by hand or by mail.
It is extremely important to complete this process by the date of
record if the stock pays a dividend.
|
| 457.3 | Few good options in this situation | VMSDEV::HALLYB | Fish have no concept of fire | Fri Apr 23 1993 10:03 | 12 |
| I have purchased stock privately in the manner described in .2, and
stress that a notarized signature is NOT ENOUGH. It must be a
"signature guarantee", which my bank (BofNH) did for free.
By and large, however, if you want to sell stock privately you'll
probably have to lower the price to below what you could get by selling it
through a broker. The buyer has to be compensated for the hassle, too.
Which means you'll need to open an account, with all the pains that
go with it.
John
|
| 457.4 | | NOTIME::SACKS | Gerald Sacks ZKO2-3/N30 DTN:381-2085 | Fri Apr 23 1993 12:48 | 4 |
| If you have a small number of shares, it's possible that the company is
interested in buying them back from you to save the cost of mailings, etc.
A letter to their Shareholder Relations department will ascertain whether
they have such a program.
|
| 457.5 | | SDSVAX::SWEENEY | Patrick Sweeney in New York | Fri Apr 23 1993 16:10 | 3 |
| It would be interesting to see if an organized group of people have
ever attempted to arbitrage the spread between the "reclamation" pric
and the market.
|