Are you contemplating selling minerals in McKenzie County North Dakota?
First you should know that minerals in McKenzie attract a lot of attention from all kinds of buyers. Some buyers are more honest than others, but, all buyers will only pay what they have to, not what they can. Soliciting offers from buyers and negotiating the highest price possible can be an overwhelming challenge for even the most educated of mineral owners. We have put together a few things to consider when selling minerals in McKenzie County North Dakota.
Remove emotion
We completely understand the emotional attachment your mineral rights may have to you. However, buyers are not concerned with how many generations your mineral rights have been held in family. They simply want to purchase your property for the least amount they can. An experienced buyer will pick up on your emotions and use it against you. Keeping emotions out of the transaction will increase your chances of a higher sales price.
If you are not sure you will be able to remove emotion from the deal, we recommend an intermediary negotiator. Fill out the form below and we can provide you with some easy but effective options.
Contact as many buyers as possible
If you are seriously considering selling mineral rights in McKenzie County North Dakota, do not accept an offer from a company by mail or sell to a “top dollar website”.
You need to show your property to hundreds if not thousands of buyers before you can be comfortable you truly received the best offer. Every buyer looks at minerals differently and some will pay significantly more for your property than others. Finding these buyers, sifting through offers and negotiating the highest value takes time and resources.
If you are concerned you are not a good negotiator or if you do not have the time or resources to contact thousands of buyers, fill out the form below and we can help get you started.
Have realistic expectations
This is where the challenge comes.
Unfortunately with mineral rights, it is very difficult to determine mineral rights values. Short of paying for a mineral appraisal, you should consider the following:
- Check with your neighbors about activity in your immediate area
- Research general McKenzie County North Dakota production/operators/permits
- Know how mineral rights are valued – Reserve calculations/IP Rates/decline curves/time value of money
- Research, Research, Research
If you have questions about how to sell mineral rights in McKenzie C0unty North Dakota fill out the form below. We can help.
