There are numerous perks associated with selling the mineral rights to any land you happen to own. However, this doesn’t mean that every prospective buyer is equally trustworthy. When selling off your mineral rights to a third party, it’s important that the new owner meet several criteria. If you’re currently looking to unload your mineral rights, keep an eye out for buyers who possess the following qualities.
Willingness to Pay What the Rights Are Truly Worth
There’s a world of difference between being financially savvy and just plain cheap. With this in mind, a buyer who refuses to pay anything resembling a fair price for your land’s mineral rights is best turned away. If they stand to profit handsomely from coming into possession of these rights, there’s no reason for them to cheap out on the lump sum offered to the original owner. This is why anyone looking to sell mineral rights in Texas is urged to do business with Endeavor Acquisitions.
Willingness to Treat Your Land With Respect
Before putting pen to paper, make sure the buyer’s plans for your land have been outlined in detail. Even though the mineral rights will belong to someone else, you’ll still own the land — and if the new mineral rights holder intends to raze the land beyond recognition, you should be aware of this before the transaction is finalized.
Willingness to Keep Your in the Know
Even after the transaction is complete, a good buyer will consistently keep you in the know regarding their plans for your land. This means contacting you before making any major alterations or beginning large-scale drilling operations. Depending on the state, the mineral rights holder may even need your approval before proceeding.
Selling your mineral rights is a great way to relieve yourself of a litany of burdens and fatten up your bank account. Of course, this isn’t to say that you should sell to just anyone. Anyone on the hunt for a suitable buyer should limit their options to people who embody the previously discussed traits.