If you have more than one company seeking your business, do you tell what the latest offer is? I'm thinking "NO", but I've never seen it discussed. A land man will often ask if I would mind telling what another offer is and who is making it. Any opinions out there please?
I've only encountered this happening once. I wouldn't tell what other offer was. Said company asked how it was to know how much to offer if I didn't tell, I answered you offer enough and I'll let you know. Never heard back from them.
Hi we own 20.9 acres in Blaine Co Ok. We've had over 6 written offers, for our minerals.Everytime we get an offer we copy it off and keep it. When we get other offers. We send the latest offer to the company with with the most recent offer. Once the company sees our other offers are legitimate. Most of the time they usually will offer a higher amount. It creates somewhat of a private bidding war! You can surf the Mineral Rights Forum, for realistic offers for your minerals. You can email me if you like. Wdanielsden@aol.com Danny
It’s not uncommon to tell potential buyers what other offers you receive. Buyers know how legitimate other buyers are, and the likelihood they will close. Furthermore, due to the way the county recorders work, you can calculate the price paid per acre if you have completed your title work.
if you would like to discuss any deeper, please feel free to contact me at email@example.com
I always let the companies get into a bidding war over a lease. Remember, don't jump too fast.
20 nma can bring a large sum on a good well. Always remember that there is likely many production zones to be explored.
Where are you Minerals Located?
Our minerals are in Sec 22 T16N R13W you can call me 319-431-6700
The method of calculating price per acre by counting the stamp fee paid on the deed is not always accurate. Whoever files the deed must be honest on the sale price for that method to work and I can tell you that a lot of the time they are not always honest because there is not really a way for the county to confirm the sales price...