There are a two primary ways to sell mineral rights in North Dakota. You can sell mineral rights on your own or you can work with a professional. We are going to show you the benefits of working with a professional and explain why doing it on your own is a big risk. Carefully consider the following information if you want to know how to sell mineral rights in North Dakota.
Do it yourself
We understand the temptation to sell mineral rights on your own. It seems simple enough. Do a quick google search and find some buyers. Get a few bids and close with the highest bid you receive. Seems easy right? Don’t fall into the same trap that so many mineral owners do. It’s easy to sell mineral rights, but there are a lot of reasons why doing it yourself is very risky. If you want to know how to sell mineral rights in North Dakota on your own, here are the things you really need to know:
Buyers: You are going to need to locate mineral rights buyers in North Dakota. A quick google search will yield some results. It’s important to understand that there are literally thousands of mineral rights buyers in North Dakota. Many of these don’t have a website or advertise at all. When you are searching for buyers you are only able to locate a portion of them online. You could spend weeks reaching out to buyers and never even talk to 1% of the mineral rights buyers.
Highest Value: If you want to know how to sell mineral rights in North Dakota for the highest value, selling yourself isn’t the best way. The reason is that the key to getting the highest value is exposure. The more buyers you can get your property in front of the better chance you have of selling for a fair price. When you do it on your own, you almost never sell for a fair price. You simply can’t reach enough buyers to get a fair offer. A lot of buyers make low ball offers because they know mineral owners won’t spend the time to talk to many buyers.
Flippers: Avoid people who are flipping your property to a real buyer. They get you to agree to $1,000/acre, then go sell the contract you signed with them to someone else for $2,000/acre. You should have gotten $2,000/acre but the flipper gets money that should have gone in your pocket. Almost every flipper will pretend they are a buyer, then when you are closing you find out someone else is buying your property.
Contract Terms: Make sure you fully understand how to read a mineral deed. Also make sure you fully understand what you are selling. Some buyers will try and insert extra property you may own that wasn’t part of the sale.
Escrow: When you close your sale with a buyer how do you know you will be paid? It helps to have an escrow process in place. Using escrow for a mineral rights sale is important.
Figuring out how to sell mineral rights in North Dakota does not need to be a challenge. When you decide to sell mineral rights on your own, you are putting yourself at risk. You will have to avoid the common pitfalls listed above. You’ll also have to be lucky enough to locate the buyer who can pay you the highest price on your own. A lot of mineral owners simply get frustrated with the process and sell. They end up selling far below market value. Don’t let that be you! Selling mineral rights on your own is tempting, but it’s almost never the best option for mineral owners.
Work with a professional
When you want to know how to sell mineral rights in North Dakota, our recommendation is to work with a professional. We personally recommend US Mineral Exchange. The reason we recommend US Mineral Exchange is simple. They will help you sell mineral rights in North Dakota for the highest value. They will also make the process simple. You’ll avoid all the common mistakes that mineral owners make. You’ll end up spending less time and selling for more money. There’s really no reason not to sell mineral rights at US Mineral Exchange.
Figuring out how to sell mineral rights in North Dakota doesn’t need to be difficult. By listing your property at US Mineral Exchange you are letting buyers come to you. Once you are listed your property will be in front of thousands of buyers. You’ll quickly get multiple competing offers. When buyers are competing against one another it helps you get the best price. Rather than talking to a few owners and hoping for the best, you get your property in front of thousands of buyers. This allows you to feel confident you are getting a fair price.
When you work with a professional you are also avoiding shady buyers. You won’t have to deal with flippers and buyers who waste your time with low ball offers. You’ll get real offers from qualified buyers and you’ll have experts who guide you each step of the way. If you want to know how to sell mineral rights in North Dakota, US Mineral Exchange is our recommendation.