If you own mineral rights in Washington County, Pennsylvania and think selling it would be profitable, you are right. But at the same time, the entire process is complex and any error on your part may make you vulnerable to lawsuits and other financial damages. It’s in your best interest to hire a professional to help you through the entire process and offer you advice and guidance on making the right decision. If you are still in a dilemma about engaging a professional for selling your mineral rights in Washington County, here are the benefits that you will get by having an expert safeguarding your interests.
Knowing what you own
Establishing ownership is a critical aspect of selling mineral rights. The mineral rights experts working for you would help determine ownership by researching titles and property deeds to make sure you really own the rights and can sell them. Unless the mineral rights are confirmed to be your property, you won’t get reputable buyers ready to buy them. At times, sellers often sell mineral rights that they really don’t own. In such cases, if the real owner sues the buyer, the buyer can compel you, according to the signed documents, to defend them and even ask you to repay the money they have paid you. Having a professional check and confirm your mineral rights’ ownership would help you avoid such situations.
Knowing your surface rights is another key issue when selling your mineral rights. This is especially true when you are selling just a fraction of your Washington County mineral rights and not parting with the entire ownership. Selling your mineral rights mean selling access to those minerals too, since natural gas and oil aren’t technically regarded as products until they reach the surface. Thus, selling your rights would mean losing control of the surface, as the buyer can use whatever means necessary and agreed upon in the contract, to access and drill the minerals. When you have a professional working for you, s/he can safeguard your surface rights by including the proper clause in the contract.
Knowing the value of your mineral rights
Establishing the value of your mineral rights in Washington County includes considering everything from the size and location of the deposit, and its present as well as anticipated market price, to the difficulty level the buyer will face in drilling the minerals. Hiring an experienced professional would mean having someone reliable to explore your property and evaluate a just value of your interests. This will prevent you from having unrealistic expectations or giving into buyers trying to low-ball your mineral rights’ value to purchase at lower prices.
Once you have confirmed your mineral rights’ ownership and know what they are truly worth, you need to find buyers who would be ready to buy your mineral rights. This may sound easy but in reality, it’s a tough job. You can use advertising, mineral exchange networks, or hire companies and/or professionals to find buyers. The safest way is to hire a mineral rights professional, who deals with networks of vetted, qualified and honest buyers ready to pay you a fair price. Unlike the risk of doing it on your own where you may end up accepting an underestimated offer, or get influenced by dubious sellers, thus selling for less than what you should have really got, vetted and reliable buyers would ensure you get a fair price for your Washington County mineral rights after considering multiple competitive bids.
Selling your mineral rights isn’t just about signing a contract and getting a hefty sum of cash. A lot of research and footwork together with a high level of expertise in various aspects is required throughout the entire procedure to ensure you get a fair price. And that’s exactly where hiring a mineral rights professional would help.