If you own land, you could be sitting on a gold-mine. Actually, you may have valuable minerals, oil, and natural gas on your property that could be making you significant money. Selling mineral rights basically involves handing someone else access to your property to dig, excavate, and remove valuable minerals and commodities based on the terms of the agreement with you, the land owner.
Some ways to negotiate the right price for your property mineral rights include:
Have your documentation in order. Before you begin to negotiate with companies looking to buy the mineral rights of your property, make sure that you have all of your documentation together. Buyers will want proof of ownership, copies of surveys, and any information related to the property that you might have available. This will pique buyers' interest and lead to a higher bid for the rights.
Don't jump at the first offer. Take time to carefully consider all options before accepting a bid or offer. Many buyers will try to pressure you into accepting their offer, and you may feel like you will miss an opportunity if you wait. The truth is, you should not accept the first offer that you receive unless you have done your homework and feel that it is a fair bid for the rights. Don't hurry into a deal that ends up costing you lost revenues later on.
Plan on it taking a while. Selling the rights to your property takes time, and it will require evaluation by potential buyers, which can a lengthy process. Liken selling mineral rights to purchasing a new home; it doesn't happen overnight.
Don't give others the chance to flip. Avoid giving away potential revenue by signing option agreements. This typically gives buyers the opportunity to sell your rights, which may put money in their pocket that should be in yours. Read the agreement carefully, and don't be afraid to renegotiate the deal before signing a contract.
Consult with an industry expert first. Working with an industry expert in the field can help you with selling your mineral rights and that could increase the price that you receive. Even if you want to sell the rights independently, consult with an industry expert to uncover what you may expect to garner from your property.
Take time to assess your property and talk with an expert regarding mineral rights. Don't expect to make money overnight; it could take a while to determine the best arrangement for you and the potential buyer. Use these strategies to garner the best price possible when you do decide to make money off of your property's mineral rights.
To sell mineral royalties, contact a company such as Appalachian Mineral Partners.