I am about to get offers on 1284.44 acres ( 0.0000034650 interest ) that I am about to sell . How are sales figured ? I sold 80 acres in carter county in 2011 ( 60 x average monthly payment ) Now i am being told it is by the Acre . Any advise other than do not sell { I have more than just this )
Jason: An offer can come in any way, shape or form of the buyers preference. It sounds like your previous buyer wanted to pay you for some minerals that were producing, hence the 60 months X some revenue average. The upcoming offer sounds like it is based on a price per net acre.
Your post is confusing from the standpoint that you say your are getting offers on 1284.44 acres. That is a lot of acres. Then you mention a decimal interest which is very minute.
Hope that helps- some at least.
Todd M. Baker
one thing you can do if you’re a little patient is go on okcountyrecords.com and find mineral deeds in your section (preferable), or close by (which may cause the value to be skewed up or down). If you can find a mineral deed that conveys a finite number of acres, rather than “all my interest,” then look at the documentary stamps at the top of the page. The price paid for the documentary stamps is $1.50 per $1000. so, if someone bought 1 net acre and the documentary stamps show $1.50, then you know the price was $1000 (per acre).