Due to health reasons, I am strongly thinking about selling one or two of my mineral interests in Carter County. Could you please give me some do’s and don’ts to go about selling. What type of research should I do on each property? Thanks
Just a small suggestion… Try to find a buyer who will keep the mineral interest as opposed to flipping it. Flippers will enter into a contract with the mineral owner and then try to find a buyer. If the flipper can’t find a buyer, the flipper will just walk away from the deal. A buyer who is known for keeping the acreage will follow through on the contract if there are no title problems.
Flippers or no flippers, it doesn’t matter. What does matter is to never hand over an executed deed to any buyer until you also receive certified funds. Don’t sign any contracts or deeds until they have been reviewed by a reputable attorney versed in oil and gas. There are as many lousy attorneys are there are lousy flippers.
You should know what you own, as in, net mineral acres, leased or unleased, producing or not. What activity is in the adjacent sections? And of course there are more questions depending on answers to these.
Selling minerals is an individual decision based solely on your needs. Don’t listen to those that say never sell because they aren’t in your shoes. Get multiple offers if you can. That way you can be assured you are getting the best deal you can.
Good Luck.
1 Like
Parts of Carter County are very active now, so you must find out what activity is pending in each of your areas. You also do not have to sell all your acres if you want to split your risk. You can sell some and keep some.
Check on the OCC if new wells have been drilled on your acreage or near your acreage prior to selling. Buyers jump on acreage that has a new well about to come online, and it’s not a requirement for them to tell you before you sell. Carter has rigs running and new wells ready to come online, and it’s always best to be fully aware of what you’re selling.
1 Like
This topic was automatically closed after 90 days. New replies are no longer allowed.