DO NOT PAY ANYONE TO DO WHAT YOU CAN DO YOURSELF FOR FREE!!!
My comments have been misinterpreted by one individual (or more). So my message does not get lost, please consider the following: I am an attorney, but I am not giving you LEGAL advice. I will not represent anyone so please don't ask. I am simply giving my PERSONAL opinion as the 1st amendment to the U.S. Constitution allows me to do.
I am tired of seeing new sites pop up offering to negotiate, draft, advise, etc., folks on their mineral rights, leases, and tax implications. YOU PROBABLY DO NOT NEED TO PAY ANYONE TO HANDLE YOUR MINERAL LEASING ISSUES unless you are a large landowner, complicated title to land issues, or other "unusual" facts are at issue. People don't hire attorneys to negotiate the terms of their mortgages, or credit card agreements, or car leases. There are many complicated legal documents we all sign often without the benefit of an attorney's counsel. There are numerous sites "popping up" which provide accurate information about mineral leasing and mineral rights. It will take some time, but if you read the materials, you probably can grasp the issues relevant to your situation. If you don't feel comfortable after "educating" yourself in the area of LA mineral law and leasing, then seek advice of counsel. If you work long hours and then have kids at home and other obligations that make research impossible, then perhaps an attorney should be consulted.
HOWEVER, BEFORE HIRING AN ATTORNE, CONSIDER JOINING A "NEIGHBORHOOD ASSOCIATION!" I, for example, belong to NorthPark Estates Neighborhood Association. We are landowners who are taking our collective knowledge and expertise and helping each other free of charge to the members. If the association has knowledgeable members, then you don't need to hire an attorney. Just about every neighborhood in Shreveport and Bossier has formed an "association." If you have this option, it doesn't make financial sense to pay for services that you can obtain for free through your "association."
If you must pay someone to handle your mineral lease negotiations, don't pay 2-4%. In my opinion, such a fee is unreasonable. You should pay NO MORE THAN 1%, especially if there is a large group retaining the services of an expert. If you can't get your expert to accept a 1% fee, go to the next person until you find someone who will.
Let me make myself even more clear, if there are complicated legal issues involved, like trusts, you should consider an attorney. If you find yourself in litigation, you definitely need to hire an attorney. If you have a 1/3, 1/2 or 1/4 of an acre, then the costs of an attorney and CPA may be cost prohibitive.
I am tired of seeing new sites pop up offering to negotiate, draft, advise, etc., folks on their mineral rights, leases, and tax implications. YOU PROBABLY DO NOT NEED TO PAY ANYONE TO HANDLE YOUR MINERAL LEASING ISSUES unless you are a large landowner, complicated title to land issues, or other "unusual" facts are at issue. People don't hire attorneys to negotiate the terms of their mortgages, or credit card agreements, or car leases. There are many complicated legal documents we all sign often without the benefit of an attorney's counsel. There are numerous sites "popping up" which provide accurate information about mineral leasing and mineral rights. It will take some time, but if you read the materials, you probably can grasp the issues relevant to your situation. If you don't feel comfortable after "educating" yourself in the area of LA mineral law and leasing, then seek advice of counsel. If you work long hours and then have kids at home and other obligations that make research impossible, then perhaps an attorney should be consulted.
HOWEVER, BEFORE HIRING AN ATTORNE, CONSIDER JOINING A "NEIGHBORHOOD ASSOCIATION!" I, for example, belong to NorthPark Estates Neighborhood Association. We are landowners who are taking our collective knowledge and expertise and helping each other free of charge to the members. If the association has knowledgeable members, then you don't need to hire an attorney. Just about every neighborhood in Shreveport and Bossier has formed an "association." If you have this option, it doesn't make financial sense to pay for services that you can obtain for free through your "association."
If you must pay someone to handle your mineral lease negotiations, don't pay 2-4%. In my opinion, such a fee is unreasonable. You should pay NO MORE THAN 1%, especially if there is a large group retaining the services of an expert. If you can't get your expert to accept a 1% fee, go to the next person until you find someone who will.
Let me make myself even more clear, if there are complicated legal issues involved, like trusts, you should consider an attorney. If you find yourself in litigation, you definitely need to hire an attorney. If you have a 1/3, 1/2 or 1/4 of an acre, then the costs of an attorney and CPA may be cost prohibitive.
Views: 254
Replies to This Discussion
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Permalink Reply by po boy on
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The parish leased HUGE acreage for that amount in a package deal-but that may not be a realistic figure for most of us with smaller rooftop covered plots. On the other side, we might hold out until 80% of our section is leased and get forced pooled. The we would get nothing until or IF the site made a profit.
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Permalink Reply by Cathaus on -
Ray be very cautious with these % guys. You are contractually bound to them for 150-180 days. If your lease can't be "flipped" within that time frame, you are left with nothing but a piece of bad paper. Some of these "flippers" are notorious for giving bank drafts and canceling them within 10 days. There is nothing you can do about it. No one will lease your minerals because they are tied up with this unethical guy for the duration of the contract. There is no easy answer. If it sounds to good to be true-------it is!
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Permalink Reply by Pat on
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Please do ALL of the math on that 5%. Makes an easy choice to pick somebody else to work with.
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Permalink Reply by CMI A1 on
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You act as though your only way to get to the $27,000 is to use a middleman. Not so! You can join a group of your friends and neighbors, pooling all of the acerage together. (5% is a radiculous rip off)
With the power of your group, acerage pooled together, and some work gaining knowledge, you can make that middleman and his $27,000 look laughable. Get more AND keep your 5% - That's my motto.
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Permalink Reply by P.G. on
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Where the landmen made out like bandits before the Great Shale news broke was with those who only had a few acres. With a land owner entertaining a possible max of 2 or 3 hundred dollars an acre and then justifying paying most all of it to a lawyer for advice, the landmen won!
I'll bet too that most folks never knew what a landman even was before they got that knock on the door , telephone call or letter in the mail.
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Permalink Reply by P.G. on
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"Most landowners with any acreage"
That's the key word.
I've lived here since '93 and never heard of a landman! No landman ever knocked on my door until this year.
I don't have a lot of land in shreveport. About 4 acres. That's not much but quite a bit when one talks about $300 verus $20,000 or more an acre bonus wouldn't you say?
What's aggravating is the company that leased me has a website but you have to have a password to even get on it now! What's that all about?
Sounds real professional, huh?
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Permalink Reply by Bobi Carr ("parker") on
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The landmen didn't win the company won!
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Permalink Reply by P.G. on
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I wonder how many will take comfort in knowing that?
Check out my landman's website!
www.griffithlandservices.com
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Permalink Reply by smith1 on
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Do you think this might be your landman's site?
Just a thought, might not be??,..
Griffith Land Services IncIs This Your Company?
11060 Timberline Rd, Houston, TX 77043-3804, United States
Phone: (713) 465-3273
SIC:Security Brokers, Dealers, and Flotation Companies
Line of Business:Security Broker/Dealer
Oil & Gas Information Online GIS Application & Map Data Mapping, Parcel Data, Wells, Aerial
Oil & Gas leases? Get the facts about how oil & gas deals are done!
We Buy Royalties Get top dollar for your royalties Oil & Gas Royalty sellers market
Detailed Griffith Land Services Inc Company Profile
This company profile is for the private company Griffith Land Services Inc, located in Houston, TX. Griffith Land Services Inc's line of business is security broker/dealer.
Company Profile: Griffith Land Services Inc
Year Started:1983
State of Incorporation:N/A
URL:N/A
Location Type:Single Location
SIC #Code:6211
Est. Annual Sales:$710,000
Est. Employees:9
Est. Employees at Location:9
Contact Name:Marty Griffith
Contact Title:President
Data above provided by D&B.
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Annual sales look kinda weak for a fifteen year old company, but at least they have been licensed to do business longer than some I have spoken to who have been listed for six months or less.
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Permalink Reply by Bobi Carr ("parker") on
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Even under my circumstances, I do not believe that every landman is the enemy. Nor do I believe they are inherently evil.
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