My mother and my two uncles have been approached about selling their shared 50% interest of 10acres in Desoto Parish. They each believe that it is far too low of an offer. It was $35K total. They receive small royalty checks here and there from Chesapeake. Usually about $50. We do know that this used to be much higher for many years when it was oil and not just gas. My mother and uncles don’t really want to sell, but each could very much use the money at the moment. If they did sell; they want to be absolutely sure they receive as much as possible. Is this a fair number? Should they continue to hold out? I appreciate any and all advice on the topic. I’m hoping I can help them make a well informed decision to help their financial futures.
Have they considered selling half of what they own and keeping half?
My mother has suggested this to me and we are going to pose the idea to my uncles, but we are aware that most of these people that come with offers want all or nothing. They’ve had offers years ago.
Was the 35K a hard number for your specific interest? or based on a per net mineral acre interest? For example, if the offer were based on $7000 an acre (x5), and the acreage were under a 25%RI lease, the actual amount would be $8,750. You could contact other mineral buyers and find out what they offer - there are a lot out there . And, of course the buyer thinks there will be a return on his investment. Just practice extreme caution, and have YOUR attorney prepare or review the mineral deeds.
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