Selling your oil and mineral royalties can be quite profitable if you go about it in the right way. For the average person, it can be difficult to know how to find/attract buyers and it’s common to end up selling rights for far below their value due to a lack of in-depth knowledge. If you have oil royalties you’re hoping to sell, it is crucial that you know how to get these seen by the appropriate buyers in order to generate the best offers.
Selling Your Royalties Yourself
If you wish to sell your oil and mineral rights on your own, there are some details that must be considered in order to give you the best chance at a successful sale. While this can be time consuming, you will be better prepared to deal with potential buyers hoping to purchase your royalties at the lowest possible price.
The first major detail is to accurately estimate the value of your royalties, which can be done by either looking at your royalty checks or through estimating your interest, current oil/mineral prices, as well as the length of contract and various other factors. This can be a very challenging process, but when you have an accurate estimate, you can better identify fair offers.
Once you have a firm idea of what your royalties are worth, you need to search for potential buyers. Without industry connections, an online search for companies who purchase oil and mineral rights is your best bet. Contact as many of these people as possible to discuss your royalties and seek out offers. However, do not jump the gun. In order to sell at the highest price, you need to be willing to negotiate for the best offer.
Working With Professionals
Anyone wanting to sell oil royalties can do it on their own if they are willing to put in hours of effort and run the risk of attracting lower offers. However, you can alleviate all of these headaches and concerns by opting to work with experienced royalties experts.
If this seems like a tiring process that you’re not willing to go through, the best, most viable option available is to work with an industry professional, like CP Royalties. Many times, people will choose to sell to earn needed money quickly, to build on their retirement funds, and even to alleviate the stress of owning and managing their rights and royalties. If you’re thinking about selling your mineral rights, CP Royalties will use our expertise to guide you through the process; making it as painless as possible and closing in as little as 15-30 days.