Are you looking to sell mineral rights in North Dakota? If so, you have come to the right place. Mineral rights in North Dakota are some of the most valuable assets you can own, however, we understand at times there is a desire or a necessity to put them on the market for sale. Let’s talk about some things to think about before your place your mineral rights for sale.
What do you own and can you prove it?
Imagine putting your car up for sale and then when potential buyers ask you if you have the title, you say I think so…somewhere. What do you think that buyer is going to do?
If it was me, I would walk. Why would I waste my time researching how much I am willing to pay for a car, when I have no assurances the seller even owns it. When you sell mineral rights in North Dakota, sophisticated buyers (the ones you want to engage) will do the same thing.
Gather the documentation.
Step 1 – Find any and all documentation about your property. We cannot stress the importance of this enough. Locate your mineral deed, your lease agreements, check stubs, maps or any additional information you have on a property. Without it, you will find it very hard to attract good attention.
Step 2 – Scan these documents to your computer and be ready to send them out once you have the attention of a buyer.
What if I do not have any documentation?
If you have been contacted by a company looking to lease or purchase your property, ask them for copies of what they have gathered. If you have inherited the property, locate the wills, probate documents or other source deeds, from the county courthouse in which your minerals are located. A quick call to the county clerk will often point you in the right direction.
I have the documentation, now what?
When you are looking to sell mineral rights in North Dakota, you must ensure you reach out to as many buyers as possible. Here are a few suggestions on what to do once you have gathered all your documentation.
1 – Reach out to as many buyers as absolutely possible. DO NOT SKIP THIS STEP. This is where most of our readers fail. They spend a few hours on the internet and reach out to a handful of buyers, find the highest offer and accept it. Don’t do this. Patrol for days and send out hundreds of solicitations to buyers.
2 – Alternative to doing it yourself. We recommend US Mineral Exchange. It is free to give them a try and there is never any cost to you. They have thousands of registered buyers and we find our readers love the succes
When looking to sell mineral rights in North Dakota, take the time to gather up all the available documentation and then contact as many folks as necessary to ensure the highest sales price possible. Don’t make the mistake of selling to the first offer you receive.