Replies to This Discussion

Permalink Reply by Derek on July 20, 2011 at 1:46pm

My question would be why give up the mineral right at all? Your giving up long term royalties.

Permalink Reply by Robin Jackson on July 20, 2011 at 2:50pm

You are right, I'm thinking we should maintain them..But is it a guarantee all properties in Tioga County will recieve royalties?

Permalink Reply by jeff k on July 20, 2011 at 3:12pm

How many acres and what part of tioga is it Robin ? the amount of acrage is a big factor on cost...You could always keep 50% mineral rights

Permalink Reply by Robin Jackson on July 20, 2011 at 3:34pm

We are only letting go of 4 acres.

Permalink Reply by jeff k on July 20, 2011 at 3:50pm

You're probably in line or a bit low w/o including min. rights on that amount of acreage...look at other comparible properties locally to get a better idea...it amazes me how much property value increased up there in the past 5 years

Permalink Reply by Ann Ticopa on July 20, 2011 at 6:34pm

Offhand, I don't think of a reason (except for an adjoining owner) to buy that size parcel except as a cabin/house site.  If there is no road frontage, how would it be accessed.  Any approved septic site and/or water source?  Is it already under lease?  If so, is it a standard or non-surface lease?    How close is the parcel to where you are or will be living?  Assuming you are on good terms with relative, it could be worth taking some less than market price for the parcel rather than taking the chance on getting a problem neighbor.

Permalink Reply by CA770N on July 21, 2011 at 12:01am

This is something I've been trying to figure out for awhile.  Raw land seems very high in price, but what I am watching doesn't seem to be selling.  There are also some houses/cabins for sale that have been dropped in price several times.  Can anyone say if any real estate at all is moving in the southern part of Tioga?  If it's not, do you have a guess as to why?

Permalink Reply by Ann Ticopa on July 21, 2011 at 4:20am

I haven't checked prices in a while, but get the sense that the bubble has at least deflated some.

Permalink Reply by Robin Jackson on July 21, 2011 at 1:11am

We are on excellent terms with the family..Our property is perked..There is no road frontage on that particular piece but a road can be built to it, going through our property, or her other piece and we would not object..If you can picture this we own a perfect 9 acre square, in the lower corner we own a triangle going up the mountain. Wide to pointed end. Our piece does have road frontage So maybe I am wrong saying it doesn't. I am going by the fact their is no road infront of that piece but that is our whole piece and ours has road frontage..The rights are leased till 2015 , those rights come to us when the owner passes. She is 94. We can pass the rights in the deed. I don't expect them to ever build as they are very happy where they are, they will probably camp there. Though all things are possible. It is a standard leasae Ann.

 

Permalink Reply by Ann Ticopa on July 21, 2011 at 3:50am

What I as getting at with the questions is how much the land might sell for to someone other than the relatives.   What one person might do is not best for someone else, but I'd give preference to the relatives.  I'd get together with them  and ask a couple realtors what you could sell it for on the open market.  Then sell it to the relatives at a discounted price.   Selling to them, you wouldn't have to give up a permanent r-o-w over the land you're going to be building on.