I have a client that is buying minerals from his 2 sisters and wants to be sure that he pays a fair price. Some of the rights are producing but most are non-producing. Any ideas that won't break the bank. Thank you. Terri Cowen
You could always send the legal descriptions to a mineral buyer. Most would be happy to give the owners a free, no obligations offer to purchase. But I guess your client better be ready for their response which might be more than he's willing to pay.
I think Texas Tea has a fine idea. I wouldn't worry too much about the mineral buyers over valuing the acres as they generally don't.
Thanks R W. I'm not suggesting they would overvalue the acreage, but a legit company might offer more than someone who is not a professional mineral buyer would. Either way, it should give you a good ballpark of the fair price.
I've done this type of evaluation dozens of times for individuals, LLC's and estates without complaint or "breaking the bank". Send me a Personal message and I'll provide some references. I was also educated in and for years lived in Golden.
Texas Tea, I realize many people get sticker shocked when it comes to mineral rights when they want to buy the rights under their land or similar situation. I wouldn't have even been able to give you a ballpark estimate of what my mineral acres were worth before someone wanted to lease mine and I started doing research.
Thank you. Definitely gives me an idea of which way to direct my client.