Should I sell the oil / gas mineral rights that are currently producing? How do I know an offer is fair?

I own 1/5ths interest of some mineral rights that are currently producing and leased. I inherited this from my father. I am trying to decide if I should sell or not. Currently I get about 0 every other month (so, 0 a month) but in the past it’s been as low as /month or lower, and sometimes higher of course.

I have received one offer already and it was a little higher than I expected, next week I will solicit more, but I am clueless about this and don’t want to get ripped off.

The reason I’m considering selling is to buy a house. I would like to put 20% down on a home and this sale would bump me up to that amount for a down payment.

I am in Texas and EVERYONE I know freaks out when I mention selling this.. but I’m thinking of it as a "bird in the hand" situation. In other words, I need the lump sum more than I do the sporadic payments over the years, if I want to buy my dream home NOW. In other words, I’d rather have the house.

How do I get the best deal?
Adding: If I use this money to get my down payment up to 20%, I will avoid PMI, which would cost me monthly on my house payment. If I don’t do this I will possibly not get the house, and this house is the one I’ve dreamed of all my life. It will sell soon. If I wait to get this in installments, It’ll be at least 4 or 5 years before I see this same lump sum.

One Response to “Should I sell the oil / gas mineral rights that are currently producing? How do I know an offer is fair?”

  1. Exoilfeildtrash Says:

    Don’t do it what ever you get they will be getting the real deal be patient and get all you can in installments.