How To Find Out How Much My Land Is Worth

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10-02-2009, 06:36 PM

Location: Missouri half dozen posts, read 46,801 times Reputation: 28

I would similar some communication on how much to sell my 20 acres for in New Mexico, Eddy County, the Oil visitor that leases it wants to purchase information technology. I meet people sell the land and retain the royalties. Information technology seems the land prices take quite a large range of value. If anyone knows about this subject field I'd like to know how much to accept & not become ripped off.

10-03-2009, x:42 AM

Location: Atlanta, GA. 107 posts, read 326,259 times Reputation: 91

Contact a Real Estate Banker for the value of the land and mayhap some insight on the royalties. If you feel you accept a "gold mine" contact a Real Estate Chaser to discuss all your options.

10-03-2009, x:46 AM

rruff Location: Ruidoso, NM 5,468 posts, read 5,888,857 times Reputation: 4574

I wouldn't bother talking to a realtor, unless you have one yous know is knowledgeable nigh this and yous can trust them.

10-03-2009, 05:23 PM

Sarahsez 4,560 posts, read 4,298,497 times Reputation: 14102

I wouldn't trust a realtor in Eddy Canton.

10-03-2009, 09:06 PM

joe--h 24 posts, read 86,861 times Reputation: twenty

Why? Why would the oil company want the land if y'all retain the mineral rights? Joe H

10-05-2009, 08:20 AM

jaxart Location: Ruidoso, NM 1,643 posts, read iv,642,252 times Reputation: 660

Quote: Originally Posted by joe--h Why would the oil visitor want the country if you retain the mineral rights? Joe H It's done all the fourth dimension - seller retains the mineral rights and heir-apparent owns the land. I presume an energy company would feel that at least they don't have to deal with 2 separate entities if they determine to explore the tract. Tracking down heirs can be a time consuming and daunting task if the land has been owned by a "family" of the original owner for more a generation or ii - speaking from personal experience. And tracking heirs of both the land and mineral rights doubles the land amanuensis's task (and income!).

10-09-2009, 08:xl PM

Location: Missouri 6 posts, read 46,801 times Reputation: 28

Family Owned The land has been in my family for over 100 years, there is merely 4 people involved. I'one thousand sure they would like a well on in that location, in the early 80'south the company wanted to drill , my Uncle held out for $10.00 a gallon, the offer was $7.00. He wouldn't budge, and then the oter 3 lost out. Now the heirs are more reasonable. I have read an acre is worth 2k - 20k, each acre could perhaps hold an oil pool nether information technology worth xx million. So the value ranges from one terminate of the spectrum to the other. Monday I'll try to observe an oil state seller, like to a real manor agent. Must exist some in New United mexican states, but of course out of the county.

10-10-2009, 04:54 PM

mtlogger Location: NW MT 309 posts, read 930,525 times Reputation: 130

Quote: Originally Posted past cool57one The land has been in my family for over 100 years, there is simply 4 people involved. I'm sure they would like a well on at that place, in the early 80'south the company wanted to drill , my Uncle held out for $10.00 a gallon, the offering was $seven.00. He wouldn't budge, and then the oter three lost out. Now the heirs are more reasonable. I have read an acre is worth 2k - 20k, each acre could possibly hold an oil pool under it worth xx million. So the value ranges from one terminate of the spectrum to the other. Monday I'll endeavor to find an oil state seller, similar to a existent estate agent. Must exist some in New Mexico, but of course out of the county. I worked in the oil patch for many years. The real question is do yous own the mineral rights? If not the drillers don't need your land or your permission - they tin directionally drill underneath information technology and not pay a red cent. Wells that produce less than l bbls/week are hardly worth the effort of drilling costs. $vii/gal - no one gets that! It's a percentage unremarkably 2% sometimes every bit loftier as 7%. If you don't take the property tax neb - get to the assessors office to meet what the land is worth. They will probably have a list of oil companies that adjoin the holding line.

10-12-2009, 03:43 PM

domino ii,857 posts, read six,366,428 times Reputation: 1741

Quote: Originally Posted by cool57one I would like some advice on how much to sell my twenty acres for in New United mexican states, Eddy County, the Oil company that leases it wants to buy information technology. I see people sell the land and retain the royalties. Information technology seems the land prices accept quite a large range of value. If anyone knows about this subject I'd like to know how much to have & not get ripped off. Your mineral rights are worth what the oil company volition pay. The oil companies try to stay anonymous by going through a banker, because they don't want any competition from other oil companies driving up the prices of mineral rights. They want to pay the least they can get away with and avoid a bidding war with another oil company. Shop it around if you think yous can get more.

ten-xiv-2009, 06:55 PM

Location: Missouri vi posts, read 46,801 times Reputation: 28

I own the mineral rights. So far I run across an acre is worth 2k - 20,000 per acre depending.. I know mine will non exist on the high side !

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