Folks on here have seen from 4000 to 15000 an acre.
There's been a ton of discussion on this topic.
Search and ye shall find.
I have been getting letters from Oklahoma, Carroll County Ohio, Boardman Ohio and beyond wanting to help me with my investment problem? Share in my mineral rights to help me spread out the risk? Or just buy the mineral rights outright to keep me from having to worry.
I figure I'm sitting on something the insiders know about and would like to take it from me by one way or another, or just share the wealth with me.
Don't sell. You are also on something they want. If you have financial issues and need to sell, call attorney Jeff Rokisky in WV for the best deal since he will evaluate your land based on nearby wells then hold an auction between 25 or more companies to get you the best price. He was taking 6% for his services.
It you don't need money keep your minerals or suffer the kick your own butt syndrome later.
"He was taking 6% for his services."
Why, that is a pretty common commission for auction services...
It's utter rubbish. On a $1,000,000 transaction how can this gentleman justify $60,000? That's five weeks, eight hours a day at $300/hr. for him to put you in front of a buyer whom you could find with a little research on your own.
Call anyone of a number of auctioneers and see what they are charging.
He's not an auctioneer, he's an attorney. If he wanted to make auctioneer rates then he shouldn't have gone to law school and instead learned how to talk very, very quickly.
By the way, unless circumstances demand it, to me the idea of royalty $$$ over the course of time as opposed to $$ right now makes more sense. Though each person's property is their own to keep or sell.
I appreciate your insight into the matter but frankly I just think 6% is a big number, especially when some folks on here practically lose their minds when a broker or marketer wants 5% to do essentially the same exact thing. I'm not questioning whether or not he's a competent attorney, I'm just objecting to the opportunistic fee.
(This comment should be before Marcus' reply. I amended it because I have had no personal experience with auctioneers.)
Marcus, I like to read your insightful comments. But this is a time I'd like to chime in.
Jeff Rokisky and his office handled our oil/gas leasing and went above and beyond the call of what they were paid. We got a personal, original lease with all of our feasible demands included at an excellent price and gross royalty. We asked for so many protections and had alot of family members with input. Jeff and David Wilharm (an associate) worked very hard with the Oil/gas company to get what we wanted. We waited almost 3 years to lease due to caution and when they were done we were very pleased with the result. I do realize that selling property is different than making a legal contract. But my point is that they put our welfare and demands as their main concerns and as a result our interests were protected.
I'm not advising anyone to do anything. Just relating what we personally experienced.
What folks need to realize is that most of these mineral buyers are not the real investors. They routinely buy your minerals then turn around and sell them for twice as much to the real investors. To do due diligence and confirm that you have investors with the monetary means takes an attorney anyway. Then it takes an auction type environment to have the real investors compete in order to achieve the best deal.
Mineral real estate 101 - I've recently discovered!
That being said, ALWAYS have the deal double and tripled checked by another attorney as well.
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