If you received an offer to sell mineral rights in the mail, you should proceed with extreme caution! Before accepting any offer, it’s important to know exactly what you’re getting yourself into. This free guide will help you understand what these offers are and some alternative options.
About an offer to sell mineral rights in the mail
If you received an offer to sell mineral rights in the mail, you probably have a lot of questions. Who is this company? How did they get my information? Is the offer fair? What should I do next? We’ll help you understand the answer to all of these.
The first thing you need to know is how they got your information. There are a lot of companies that get information from state and county tax records that show who owns mineral rights. They will take this information and then create a standard letter that gets sent out to thousands of mineral owners just like you. Your property is not unique to them and they have spent no time figuring out the value. These companies have a simple goal. To send out as many letters as possible and find mineral owners who wish to sell mineral rights.
No matter which company you got the offer from, they all operate in a similar way. After sending out thousands of letters, they hope to bait you by telling you that you have a short amount of time to accept their offer. In addition, they will sometimes include a draft check for a large amount of money. The amount is based on the tax records, but it DOES NOT represent the actual amount they will pay you. How can they get away with this? Carefully read the enclosed documentation and you’ll see that they have the right to “Review title” and that “oil and gas prices fluctuate”. The large amount of the draft check is only to entice you to call and start the negotiation process and it is not the amount you will actually receive.
The large amount of the draft check is only to entice you to call and start the negotiation process and it is not the amount you will actually receive.
As a mineral owner, you are probably curious is the offer is a fair one. The truth of the matter is that they don’t have a clue if it’s fair. They send out thousands of these letters and they haven’t even researched your property. As soon as you call, they will adjust the price lower after they actually figure out what your property is and how much it’s worth.
Will the actual final offer be fair? Highly unlikely. Their goal is to find mineral owners who don’t know any better and are willing to sell below market value! Don’t let that be you! To get the highest value for selling mineral rights, you need to ensure that you are getting the property in front of a large number of buyers. You don’t want to accept a single offer to sell mineral rights in the mail, you want to get multiple offers.
Alternatives to an offer to sell mineral rights in the mail
So now that you know that an offer to sell mineral rights in the mail is probably not your best option, where should you go? If you want to sell mineral rights, we highly recommend you list your property online at US Mineral Exchange. The reason is that by listing your property through them, thousands of mineral rights buyers will be able to bid on your property. When buyers compete to pay you the highest price, that means more cash in your pocket!