My senior mom and her sister are being aggressively pursued by someone trying to buy the mineral rights they own for acerage in Weld County. I am trying to determine what price per acre they should be asking so they don’t get taken by someone who is trying to close very quickly.
The property description is: Township 7 North Range 65 west, 6th P.M. Section 02
S/W 1/4 lying south of the larimer and weld irrigation company ditch.
If you can help it would very much appreciated. Thank you.
Would your Mother and her sister have any neighbors to the Section who have negotiated mineral rights sale they could ask? On here--if you send those pursuers my way I'll let you know the offer-- i'm east on township 59 N / Range 38 W, 5th P.M. Section 04. cgebhart
I would NOT sell these rights. They probably will just keep going up. If at all possible leave them to a kid or relative you trust. If not ask a kid or relative to help support you now (if needed) and leave the rights to those people.
I had an active negotiation going on for around $500/ acre for 3 years a couple of years ago. I called one of these people who had sent an offer to buy the rights. They offered me about $400-500 an acre to Buy,outrageous. I have rights on 80 acres,i am Not an attorney or even that experienced. I am going to leave my rights to our children, and hope in years to come they will get some more money to help them.
Mark,
Now is not a time to sell unless there is an emergency. The time to sell will come but there is a lot of development to be done between Section 2 and the NE corner of the Wattenberg field. I would be suspicious of a buyer at this time. Check the terms of the deal very carefully. Bottom line is the amount of cash your Mom and Aunt are satisfied with.
You seem to know the business and may want to get a first right and keep it in the family for the long term.
Gary L Hutchinson
Minerals Managment
Mr Gebhart, Unfortunately they don’t know others in the area that could be used for comparison/reference.
Gary,
Appreciate the input. The current offer is $2200 an acre for the mineral rights on the acerage described above. Both ladies seem interested but given my lack of real knowledge I asked them to hold off in hopes that people on this forum could give us an indication if they should sell the mineral rights or ask for a better offer.
Regards and happy holidays Mark
Mark,
The greatest risk they run is having the land tied up for long periods of time without payment while the buyers find a company to flip to then being offered a smaller amount than contacted for. The buyers are trying to get as much land for as long as possible for as cheaply as possible. It it their job. I have sent you a Personal Message in the event you want to help them get a fair deal for them.
I have appraised minerals, advised, and consulted for banks, law firms, corporations, dozens of MRF members and even drilled wells in Weld County. There is no need for them to reinvent the wheel.
Gary L Hutchinson
Minerals Managment for inherited mineral owners.
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They offered you XXXXXX? I'll beat their offer. PM me.
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Gary is right! Bottom line is what your mom and Aunt are satisfied with---tomorrow has
almost nothing to do with it. They may have their reasons for selling-or not--It is not up to
this site for anyone to TELL them what to do, but to give FACTS so they may make their own wise decision. When I hear ANYONE say never sell I say that's right UNLESS OWNER HAS THEIR OWN REASON TO SELL!!!! And we are not privy to such!