Good Morning,
My mother owns about 4K acres in Wetzle county, she has been approached by Black Gold Group and offered 2k for her rights. Can any one enlighten me as to what this land is actually worth? She has never received more than 50.00 a year from the royalties.
This land has been passed down through several generations, she and my uncle are the only ones who still have interests.
Any information word be greatly appreciated.
Wow. The Wetzel County Board used to be kind of busy. I know I haven't been around for a while myself, so I guess I am in no position to cast stones. Hope everybody is well!
I don't recommend selling if you can help it. The mineral rights should be more valuable in the long run than what you can get for a sale today. This is particularly true where you own a large number of acres. If you just need some cash now, though, it's worth selling.
I have a client who is selling a small part of about a 40 acre tract in Wetzel County right now for just over $3000/acre. With a larger number of acres, I would be negotiating for a lot more than that. Where someone is offering $2000/acre you should just tell them they aren't in the ballpark and that number just isn't going to get it done, and let them come back to you with a larger number. Then you can throw out something like $10K/acre and see what they say.
Sorry to link my article to this, probably should have posted in the Wetzel specific board.
But am interested in your situation. Did you end up signing a lease agreement? If so, what was the final agreed upon price?
Thanks.
http://www.mineralrightsforum.com/forum/topics/mineral-rights-wetzel-co-wv