Home Buying in 76016>Question Details

Diana, Renter in Fort Worth, TX

How much will not owning the mineral rights to my home effect it's resale value?

Asked by Diana, Fort Worth, TX Wed Feb 16, 2011

How much will not owning the mineral rights to my home effect it's resale value?

Arlington, TX home sellers all want to keep their mineral rights everytime I make an offer. Should I still buy anyway? What I really want to know too, is what happens in 10 -15 years when I want to resale?

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Answers

8
Shawn Ramsey’s answer
Not every home in Arlington keeps their mineral rights. My clients hardly ever lose their mineral rights. Even if it is advertised that the seller is keeping them, my clients end up getting the mineral rights.

Its a matter of the buyers agents negotion skills. Some agents let listing agents run the show, and good agents take the show over.

Alot of buyers (and sellers) think one agent is as good as another and never find out what they missed out on till the transaction is over.

If your interested in a buyers agent who is not only a Realtor, but a Broker, Certified Negotiation Expert (CNE, Certified Neighborhood Specialist (CNS), Accredited Buyers Representative (ABR) and a Short Sales & Foreclosure Resource Certified (SFR), click on my name and contact me privatly.
0 votes Thank Flag Link Wed Jul 27, 2011
This question was posted in February 2011- and has already been answered previously???
0 votes Thank Flag Link Wed Jul 27, 2011
What happens if the person or business that has the mineral rights to you property wants to extract them?
0 votes Thank Flag Link Wed Jul 27, 2011
I have plenty of buyers that absolutly will not look at houses without mineral rights. I can tell you statistically that the houses that do not convey their mineral rights stay on the market the longest.

When I run an "expired lsitings" report off the MLS, I would estimate that 90% or higher of the houses that expired (usually on the market for at least 3 months and never sold) stated that the mineral rights did not convey.

So when it comes to resale down the road, it most likely would effect either the price or the time on market.

As a side note, when you go to resale, currently, you do not have to let the new buyer know that you do not own the mineral rights. So unless they ask you specifically, they may never know that they are not getting the mineral rights.

What it all boils down to is that when it comes to mineral rights, you need to get a land man and an attorny involved, and at that point it just is not cost effect when it comes down to city lots.
0 votes Thank Flag Link Thu Feb 17, 2011
Great question! This is a good one for a title company attorney to answer!
0 votes Thank Flag Link Thu Feb 17, 2011
Diana,

I have not seen that not owning the mineral rights have hurt sellers...................
0 votes Thank Flag Link Thu Feb 17, 2011
I have yet to ever hear anyone getting paid any money OR big dollars own them. If the home owner wants to keep the mineral rights ... then they need lease the home than sell it.

Agents have an incentive get the homes sold SHOULD be assisting property owners understand that AND many lenders MAY NOT APPROVE mortgage UNLESS mineral rights convery with property . Recommend search for homes where mineral rights are sold with home .... much easier .

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Thu Feb 17, 2011
I think most people don't even think about it on smaller properties.
They could be worth nothing.
People do sell with mineral rights.
Sometimes it is easy sometimes not.
Sometimes you have to set the offer up in the right way to get them.
In this market if they want to sell they will give them up.
Are you using a buyer's agent to help you make the offers?

Bruce Lynn
Keller Williams Realty
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Wed Feb 16, 2011
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
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