I had signed a PSA with a supposed buyer (name withheld), which included a 45 day due diligence period. Closing was to take place on June 10th. As of June 9th, I had not received a deed to have notorized and had not been asked for banking info for the wire transfer. Upon contacting said buyer and inquiring where we stood, I was told that the final acreage came in lower than stated in the PSA by about nearly 1/3 (that seems high to me). I was told that if their offer, now reduced, was still acceptable, we could close next week. I made a request to see the title search and discuss other components before moving forward. The buyer has not responded to my request. Shouldn’t all of this come to light before the day before closing? This is the first sale or lease I’ve made where I feel something is “off”. Either that, or, that was their strategy all along.
They could be snowed, or understaffed, or have other issues. You are smart to get more info before moving forward as they think you have less acres that you think and you need to know why and adjust your title information. They may or may not have received the title work until recently.
Also make sure that you understand if there are pending wells coming as your minerals may be worth more than they offered.
Have just gone through this earlier this year and just completed a final sale last month. My suggestion is to look in the directory on this site for a broker that can give you a better idea of what to expect. At the very least continue to follow your instincts, if it feels “off” there is likely a good reason.