Yes, this guide is written by a mineral buyer — which means we know exactly how the rougher corners of this business operate, and we’d rather compete on a level field than profit from a confused one. Vet us with this list too. We wrote it to survive it.
Nine questions that sort the buyers
- “Who actually holds the money?” Is the person on the phone a principal, or a landman on commission for an undisclosed fund? You want to know who you’re really dealing with — because that’s who decides how you’re treated when something in title gets complicated.
- “Will you show me the math?” A serious buyer built your offer from production data, decline curves, and comparable sales — and can show you. “That’s proprietary” means “you wouldn’t like it.”
- “How long is the offer open?” Honest answer: weeks. An offer that expires Friday is priced for people who can’t get to a lawyer by Friday. (Ours stay open 30 days, in writing.)
- “Are you buying to hold or to flip?” Flippers must buy below market to resell at a profit — their margin is subtracted from your check. A long-term holder can pay closer to full value. Ask what happens to your minerals after closing.
- “Who pays the costs?” Title work, deed prep, recording, notary — a real buyer pays all of it. Any fee subtracted from your proceeds is just a price cut wearing a costume.
- “What happens if title has problems?” Old estates and missing heirs are normal in eastern Ohio. Good buyers cure title at their expense; predatory ones use every wrinkle to renegotiate the price downward after you’re committed.
- “How do I get paid?” Wire transfer or a check you can walk into your own bank, at closing. Watch for the bank-draft trick — a “draft” that isn’t payable until the buyer approves title in their own sweet time, meaning you’ve signed a deed and are still waiting on money.
- “May I have my attorney review this?” The only acceptable answer is an immediate yes. A buyer who sighs, stalls, or says it’s “standard paperwork” has just failed the cheapest test in this guide.
- “Can you give me local references?” A buyer who works your county has closed with families in your county. Names, attorneys they’ve closed opposite, the title companies they use — reputations are checkable out here.
Red flags that end the conversation
- Exploding deadlines — “this price is only good today.”
- Supper-time calls and repeat voicemails after you’ve said you’re thinking.
- Checks that arrive unsolicited in the mail — cashing one can bind you to the deed paperwork that follows.
- Pressure to skip your lawyer, or a “notary who can come tonight.”
- A price with no reasoning, especially one far above or below everyone else’s — both are strategies.
- Vagueness about who the buyer is. If the LLC on the paperwork was formed last month in another state, ask why.
“No” is a complete answer. Any buyer who won’t take it gracefully has told you everything you need to know about the next thirty years of dealing with them.
Put every buyer through the same gauntlet — including us
Get more than one written evaluation. Make each buyer show the math. Give your attorney the last word. If someone beats our number with honest paper, take it with our blessing — we only want deals that are good on both sides of the table. And if you’re holding an offer right now and just want a second set of eyes, bring it over — we’ll tell you plainly if it’s fair, low, or better than what we’d pay. Start with what your minerals are actually worth so you’re comparing offers against knowledge, not hope.