What You Need to Know When Selling Your Oil or Mineral Rights
Selling your oil or mineral rights can bring in a big profit – but you want to
make sure you know exactly what you’re giving up. It’s always a good idea to
consult with someone knowledgeable before making a big decision like this.
There are plenty of advisors and attorneys that can help you figure out the
best path to take. Before you take the leap, here are a few things to consider.
Mineral rights refer to the right to extract minerals from the earth, but “mineral” can refer to any one of the following:
● Natural gas
● Metal ore
Depending on the area your property resides in, you may be sitting on a
variety of mineral rights. Do some research to discover what minerals are
common in the area and then test for them on your property.
Read the Fine Print
What do you your mineral rights actually cover? Do you own all of the rights or
just partial rights? Read the fine print on your deed to see if it says “fee
simple,” which means that you do own the full rights, or “less and except,”
which means that you might not. It’s a good idea to have a lawyer or title
examiner work with you to verify that you do indeed own the rights and have
the ability to sell them.
If you decide you do want to sell your mineral rights, you want to be sure to
get your property in front of a large network of buyers. Every buyer evaluates
mineral rights differently and one buyer might be willing to pay $4,000/acre
while another might offer $6,000/acre. You want to tap into the highest market
value by allowing many different buyers to make a bid for your rights.
Work With an Expert
Working with an industry expert when selling your mineral rights is a good
idea for a variety of reasons. You will save time because you won’t have to
search for a number of different buyers. Your property will get quick exposure
to a huge network of buyers and you will get to deal with a higher quality of
buyers. Experts are experienced with negotiating a better price and closing
MAJR Resources specializes in oil and mineral rights purchasing and selling. Give us a call today at (432)251-5156 or email us at firstname.lastname@example.org to learn more!