Do I Need To Know My Mineral Rights Value Before Selling?
July 16, 2018
Many people are selling mineral rights now, including private owners of small interests. If you are one of these people and wish to sell your mineral rights, it’s important that you do your homework so you sell for the best price. To actually profit from the sale of mineral rights, you should do what is necessary to determine the value of what you own so you are not swindled.
Does Knowing the Value of Your Mineral Rights Really Matter?
As difficult as it may be at times to determine the value of mineral rights, if you want to actually sell for their true worth, the answer is yes. Technically, just like selling a car, you could simply accept any offer that comes your way.
Also like selling a car, if you don’t know what your property is worth, you won’t know if the offers are fair or if someone is trying to get as much as they can for the lowest price.
Unfortunately, there are plenty of buyers who will try to do just that. For this reason, you should always begin any sale of mineral rights by first confirming the value of your property. In doing so, you’ll be educated and able to sell for a good price without falling prey to unscrupulous buyer tactics.
How Do You Determine the Value of Your Mineral Rights?
Determining the value of mineral interests can require some time, effort, and knowledge, which is likely why many uninformed owners selling mineral rights end up getting exploited.
The process can be challenging as it involves first exploring the property to determine its size and makeup if your rights are not already leased and producing, then determining current market value.
Properties that are actively producing are worth more than those that are not simply because the work has already been done to drill for gas or oil and it is easier to estimate future production.
There is still more involved to get a fair price even after determining the value of the mineral rights you intend to sell. Whether you are proving value with geological reports or production and royalty records, you stand to earn the most from your sale of mineral rights when there buyers are competing for them.
How A Reputable Royalties Company Can Help
There are basically two ways of selling mineral rights today: doing the work of valuing the interests and seeking out multiple buyers on your own or working with industry professionals who can facilitate the entire process for you. When you work with a royalties company, they can more easily determine the accurate value of your property, then offer it to qualified buyers willing to bid on it.
Although there is nothing at all preventing you from selling mineral rights without first determining an accurate value for your interests, you could be taking a considerable risk.
Rather than assuming you know the worth of your mineral rights or just accepting offers that come your way, work with a royalties company. These professionals are in business to help you make the most from your sale of mineral rights!
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