There’s a long history of gas and oil production in the state of Pennsylvania, which goes back to 1859 when Edwin Drake drilled America’s first successful oil well in Titusville. Since then, aided by technology, different regions of the state have been explored for gas and oil. In the recent years, Pennsylvanian mineral rights owners have got the most value from the drilling of the Marcellus shale. The Utica shale, in some areas, and the Upper Devonian shale also bring good news for the state’s mineral rights owners.
If you own mineral rights in Greene County, you can sell it right away to get a huge amount of money at one go. If you aren’t ready to wait endlessly for the company to begin drilling after leasing your mineral rights, or just want to get the burden of real estate planning off your shoulders, selling your mineral rights in Greene County could be a feasible solution. However, you need to be careful when selling your mineral rights since making a wrong decision in hurry would mean losing out on getting a good deal.
Here are the key things you should consider when selling your mineral rights in Greene County, Pennsylvania:
- Get in front of numerous buyers: Just having 2-3 bids from interested buyers would never let you know what your mineral rights are really worth. Ideally, you should put your mineral rights in the market for sale to get an idea of what the fair price is. You may even get your property listed with a reputed company that offers your mineral rights exposure from numerous buyers all over the US. This in turn would let you get the highest possible value for your mineral rights.
- Don’t decide in a hurry: Don’t accept the very first offer that comes your way. Be patient to wait because when you have a couple of offers, you can negotiate better to get a fair price for your mineral rights in Greene County. Many mineral rights owners who have rushed into a decision regret later that had they waited a bit longer, they could have got a much better deal.
- Don’t get swayed by an offer in mail to sell mineral rights: Many companies get information about Greene County mineral rights owners from county and state tax records. Once they have this information, they will send a standard offer letter to you (and all other mineral owners like you) via mail without spending any time to know what’s the fair price of your (or other owners’) mineral rights. Even when their offer may seem lucrative, don’t accept it unless you have competing bids and know what your mineral rights are really worth.
- Do your homework and don’t trust rumors: You may hear several rumors related to the sales prices of mineral rights in Greene County. Believing such rumors about how much other property in the nearby areas sold for, or having unrealistic expectations of getting a specific sum for your rights can prevent you from making the most of a good offer. While you shouldn’t give your rights away at an undervalued price, you shouldn’t lose out for having set an impractically high sales price. The best choice is to work with experienced professionals, who have the expertise of deciding your mineral rights’ true value, and then help you find buyers ready to pay you an amount that’s as close as possible to your expected amount.
A lot of complexity is associated with the valuation and selling of mineral rights in Greene County. If your knowledge about the basics isn’t very strong, you may be taken advantage of by shrewd buyers. Even when you have the basics rights, you may be taken for a ride with a seemingly incredible offer. So, it always pays to engage adept professionals while selling your mineral rights in Greene County to ensure you receive a fair price for it.