I'm hoping someone can point me in the right direction. Our family has recently been contacted by a Landman who wants to buy mineral rights that we inherited on a property in Weld County (Township 5). We didn't even know we owned these rights (the inheritance tree is long) so it is truly 'found' money. However, for some members of the family, that money will come in real handy. Can someone tell me how to determine if what we have been offered is a fair price? We really can't afford an expensive appraisal service or attorney fees (unless the value is more substantial than what we have have been offered). We don't actually own the property, just the mineral rights.
Paula, you'd have to start by posting here the Legal Description of the Property in it's entirety. I'm sure you'll hear lots of opinions on the properties value, how you should 'never' sell minerals (I don't subscribe to that professionally) and you might get a few more offers as well. Find out what they want to do with it and verify that, you might negotiate some overriding royalty as well so you've still got some action on the future development.
Hi, I may be able to help on a pro-bono basis (no charge). And others may help also, but you need to specify the location of the Property by Section, Township and Range. Also, indicate the amount of acres of mineral rights.
Regards,
John Gustavson