Want to know how to sell oil and gas royalties in North Dakota? This free guide will explain everything you need to know about how to sell oil and gas royalties in North Dakota. If you want to get your oil and gas royalties sold for the best price, carefully read this entire guide. We’ll help you avoid common mistakes people make in your situation so you can sell for the highest price!
How to estimate oil and gas royalties value
If you’re like most people you’ve been to 20 website and you can’t get a straight answer. How much are oil and gas royalties worth? A lot of people simply don’t know and buyers don’t want to tell you because they want your property for the cheapest price. Before we talk about how to sell oil and gas royalties in North Dakota, it helps to know how much your royalties are worth. Below is an oil royalty calculator that will provide you with an estimated value.
Keep in mind that the estimate above is just that, an estimate! Your property could be worth more (or less) than the estimate above. There are many different factors that determine how much your royalties are worth. The above just gives us a frame of reference to start from. Once you have at least some number to start from, it allows you to gauge an offer you receive to see if it’s at least in the ball park.
Avoid a common mistake!
Now that you know roughly how much you royalties are worth, we need to get them sold. Figuring out how to sell oil and gas royalties in North Dakota can be a bit confusing. You basically have two options when you want to sell royalties. You can sell them on your own or you can work with a professional broker.
Selling royalties on your own is the most common mistake we see royalty owners make. If you decide to sell oil and gas royalties on your own, you are going to end up spending a lot of time, potentially get taken advantage of, and almost always sell far below market value. When you sell oil and gas royalties there are a lot of people out there who will take advantage of you. A lot of websites are set up simply to find people who want to sell. They will make low ball offers and put pressure on you to sell quickly so you make a mistake. A lot of websites aren’t even buyers, they will get you to agree to a price and then turn around and flip the property to a real buyer. They make a huge amount of money doing this and that money should have been yours. This is just scratching the surface of challenges you will face doing it on your own.
The biggest reason we recommend against selling mineral rights on your own is exposure. To get the best price you want your property in front of as many buyers as possible. The more buyers know your property is available the better chance you have of getting a top offer. When you sell royalties on your own you would be lucky to contact even 1% of buyers after spending months searching. A lot of the best buyers don’t even have a website.
If you want to know how to sell oil and gas royalties in North Dakota, we recommend US Mineral Exchange. There are numerous advantages to working with a professional broker. We recommend working with US Mineral Exchange for the following reasons:
- Maximum Value: The key to getting the best price is property exposure. When you list your property at US Mineral Exchange it’s like putting your home on the MLS. Thousands of mineral rights buyers from all over the country will be notified. These buyers will then come submit bids on your property. This creates competition among buyers which drives up the price. The more buyers are bidding each other up the better chance you have of getting the best possible price. Doing it on your own you’d be lucky to get a handful of buyers to make bids.
- Convenience: You could end up spending a ton of time looking for buyers on your own. Once you get some bids you then have to negotiate yourself, review all the documentation, and handle escrow. When you list your property US Mineral Exchange they do all that for you.
- Qualified Buyers: There are a lot of shady buyers/individuals involved in mineral rights transactions. Avoiding them is very difficult because they pretend to be making you a great deal. When you list your property with US Mineral Exchange you don’t have to worry about shady buyers because they only work with real end buyers who pay the best prices.
We have spoken to a lot of mineral owners over the years who listed at US Mineral Exchange and they have all been happy with their decision. This is why we recommend their service. If you want to know how to sell oil and gas royalties in North Dakota, we recommend US Mineral Exchange so that you get the best possible price and service.