Market value is a term loosely used by those in the industry, but to determine the true market value of anything doesn’t there have to be a market? Ahh….so there is the problem. You have already discovered it is very difficult to determine the true market value of minerals in North Dakota. That is the reason you are searching for some help and the reason we set up this website.
What to you consider when looking for the market value of minerals in North Dakota?
“Before anything else, preparation is the key to success.”
Alexander Graham Bell
Let’s start with the basics first.
1) Do you own the minerals?
We are contacted daily by individuals looking to find the value of minerals in North Dakota, yet are unsure if they even own them. We certainly understand it can be difficult to gather up ownership as mineral rights title work can be a challenge. However, anything you have to prove ownership will be extremely valuable as you begin your search. Some ideas on where to start can be found in the section titled “Recommendations” below
2) How many acres do you own?
This is a very common question the market place will ask you. You may be scratching your head right now because while you know you own something, you are just not sure what you own. Again, more often than not this is the case with mineral ownership and something we also address below.
The Market Place
Where can I find the market value of minerals in North Dakota online and where is this market place you speak of?
There are a couple different options available to you.
Many mineral owners will spend countless hours searching the web for individual mineral buyers, seek offers and then negotiate with each buyer to maximize their mineral values. This can be effective but please be careful. Unless you have experience with selling mineral rights, are confident in your ability to negotiate the highest possible sales price and understand the closing process, it is best not to tackle this alone.
The second option is to enlist experienced professionals who will help you determine the market value of mineral rights in North Dakota. If you choose the right partner they will –
1) have experience in your area
2) be able to negotiate to the highest price on your behalf
3) have access to thousands of buyers across the nation
4) be able to assist you from start to finish.
If any of these four components are missing, you will very likely not be happy with your results.
Recommendations
First, you need to gather all relevant documents proving ownership and how much is owned. Call the county courthouse where your minerals are located and ask to speak with the recorder of deeds. They will ask you a few questions and then seek out the proper documentation proving ownership. Ask for anything related to your minerals, such as mineral deeds, old lease agreements, wills or probate documents.
If you own producing mineral rights, look at your check stub and contact the operator. You will want to request a copy of your lease agreement, a unitization report for the producing wells, a pooling report for the producing wells, and your executed division order. Make sure to also ask for your last six months check stubs if you do not already have them.
If you are looking to sell your mineral rights, scan all these documents and have them ready to present to an interested buyer.
If you are looking to sell your mineral rights, we highly recommend the US Mineral Exchange. They meet all four critical components required to determine the market value of minerals in North Dakota. Mineral owners that have used the Exchange in the past have always been highly complimentary of their services. Unless you are absolutely confident you can do this alone we suggest you reach out to them after you have gathered all your paperwork.
