ask 如山: Do I need to convert my stock to cash?

I have $240K in stocks and $30K in cash. They are all in a cash account. I want to bid a short sale property for $125K.

Do I need to convert my $95K stock into cash before I submit the offer? If so, if the bank refuses my offer, I am going to lose the potential gains. And it usually takes a long time for banks to decide short sales.

Any suggestions? Thanks.

所有跟帖： 

• I don't think you need to convert your stock to cash -如山- ♂ (206 bytes) () 12/21/2009 postreply 11:00:10

• 回复：I don't think you need to convert your stock to cash -stomindy- ♂ (62 bytes) () 12/21/2009 postreply 12:06:24

• Will the bank requires me to convert before receiving the bid? -stomindy- ♂ (0 bytes) () 12/21/2009 postreply 12:07:05

• I don't think so. -如山- ♂ (0 bytes) () 12/21/2009 postreply 12:14:03

• Bank may require you so something to prove you have -如山- ♂ (12 bytes) () 12/21/2009 postreply 12:32:58

• A brokerage statement good enough? -stomindy- ♂ (0 bytes) () 12/21/2009 postreply 13:02:42

• It depends on the bank. -如山- ♂ (0 bytes) () 12/21/2009 postreply 17:52:52