I have a past client/ present friend who lives in Carriage Oaks in Bossier City, Louisiana. She is keeping me informed on her neighborhood's efforts to collectively negotiate mineral leases on their land. She wanted to know how signing these leases effect the value of their homes in the future.
Since, I have not worked in a market where this is common, I was only able to tell her what I've experienced thus far. I have had 1 deal out of the last 5 fall through because of reserved mineral rights being requested after negotiations started between buyer and seller. The home being sold was on a small neighborhood lot, probably a tenth of an acre or less. The seller did not reserve the minerals in the listing (prior to Haynesville Shale fever ). The buyer and seller could not come to terms and so that deal died. Another deal I'm presently working, the seller is also trying to reserve the minerals after an accepted contract. They are more than likely going to deny any repairs or any other thing they can deny to get out of the contract. It seems these sellers are willing to hold onto their properties longer for what mineral leases they can get. Which probably isn't much on a small residential lot.
The problems I see arising already is that sellers want to still sell at top dollar, but now they want to offer a home of lesser value since the minerals will not convey. Buyers already want a good deal on a home and see it as a "Buyers Market" because of all the news around the nation and now they don't even get the whole package when buying a home and the seller wants top dollar.
I feel it will take a couple years for our market to adjust to this new dilema. The residents here will have to experience it long enough for it to become common practice -- that is, mineral rights reserved. It will take time for sellers to realize the value of their homes are lowered slightly by them reserving mineral rights. It will take time for buyers to accept that property doesn't come with mineral rights. Until then, I think many real estate agents will have to pay attention in the beginning of each client relationship to set expectations appropriately. Listing agents should encourage their clients to list at a price reflective of "partial package" property. Buyer's agents should educate their clients on the significance of possessing no mineral rights or the insignificance of it. Short term resale may be effected, but it will correct in the long run.
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