Mineral rights properties have been a hot topic nowadays. It has been an interesting investment for real estate investors since last year but it has only begun to boom in the real estate market now. Let’s look more closely at the nature of mineral rights and mineral lease transactions.

Purchasing mineral rights isn’t as simple as buying a house or a car. When buying mineral rights, the energy/mining company has to get a mining permit and organize everyone’s schedule to commence operation on the property.

This is if the buyer wants to remove and make use of the minerals, of course. There are buyers who just prefer to invest in the property. The investment would include the plan to sell that property to energy/mining companies themselves.

Mineral Rights and Surface Rights

Mineral rights are different from surface rights. Surface rights only focus on the properties (buildings, landmarks, etc.) that is at the surface of the property. Mineral rights, on the other hand, refer to the energy or minerals that are present under the property. This would explain why we can have a surface rights owner and a different mineral rights owner.

Naturally, we can expect that there would be disagreements between the mineral rights owner and the surface rights owner. These would most often come out during the extraction of the minerals, and most of the time it is the surface rights owner who gets inconvenienced. Disagreements like these can be cleared up by looking back to the mineral rights agreement, or the mineral lease agreement. When it is written that the mineral rights owner has the right to operate mineral extraction any time he/she wants, then there is nothing that the surface rights owner can do. This is the reason why written agreements and contracts should be kept and valued. Legal assistance is always a big help, especially when it comes to mineral rights leasing.

Surface rights owners, and surface rights buyers, should also take a look at the mineral rights agreement. You may not be directly involved in the transaction of the mineral rights of your property. But you are still a part of that property and there may be certain things you need to prepare yourself for (like the extraction of the minerals at an inconvenient time).

Seek legal assistance when you are going to buy a property that may have mineral rights attached to it. Copies of mineral rights transactions are normally kept at a government office if you cannot find the original ones. Buyers should always ask what rights are included in the sale of a property. You can ask your lawyer to research on the property you want to buy and the extent of the ownership being offered to you. A lawyer’s assistance is important especially if you’re dealing with a property that has historic mineral activity and potential mining activity.

State and Local Laws

Most states have laws and regulations pertaining to mineral rights ownership, transactions, and extraction. There are laws and regulations that emphasizes the limitations of a mining company’s actions during extraction, for example. These laws are put down to help protect the environment and the parties involved. Both the mineral rights owner and the surface rights owner should be aware of these laws to avoid future problems and disagreements. To make matter clearer for both parties, lawyers and legal assistance should be present.

Obviously, mineral rights and mineral rights transactions are a very complex situation. They require a lot of research, a lot of counsel, and a lot of effort, time, and money. The most important thing to remember is to always ask about the rights and seek legal assistance.

When the seller or homeowner objects to your deals, what do you do? You may need the deal badly, or you may just think you’ve had enough seller objections for the day. Either way, it is better to negotiate successfully with the sellers and make the most out of it.

Even if the seller flatly refuses your deal, the end result would still be that you will still be a polite and courteous real estate investor who offers help to them. If you won’t get the deal, at the very least, you have a reputation to protect.

So how do you negotiate successfully when the seller objects to your conditions?

1. Handle the objection face to face. It’s better to solve the problem at once rather than stray from it. It will still be reeling in the seller’s mind throughout the negotiation if it’s not put to rest and this could affect the whole deal. Keep in mind that you have to be polite in doing so, however. Some sellers might not take it kindly if you’re going to force the issue too much.

2. Let the objection fade away by leaving it alone. This will bode well with seller objections that are really just all about trying to make a little distraction in an uncomfortable topic. There are times when the seller doesn’t like a subject and would rather object to it. You can leave it alone and just proceed to the next topic on hand. The objection can fade with time.

3. Gently cast the objection aside and focus on gaining the seller’s trust instead. There are some objections that stem from skeptic thoughts on the seller’s part and one way to cast these aside is to bring in some connection between the two of you. Try no to bring the objections up in your conversations. It will just fade away as the seller grows to trust you.

4. Prevention is the best cure, medical specialists would say. In real estate, and regarding seller objections, we can use the same concept. The best way to handle a successful negotiation is to avoid bringing up seller objections. You can do this by being as informative and sensitive as you can be to the seller’s situation and problems. If you can judge what would worry your sellers in advance, then prepare a talk wherein you can ease their mind and not have to deal with the seller objections.

You won’t be able to secure a deal unless you get that first phone call and first deal. After you’ve done some advertising (flyers, ads, etc.) and made some connections with foreclosure and real estate agents, all you need to do is prepare to take on your first seller as he or she calls you.

One thing you have to remember first is that you may not get a call right away. When this happens, do not panic. There are homeowners who opt to hold on to your number until they are ready to call you themselves.

When the first phone call comes and your phone rings, do not panic, too. Be calm and composed. Act like you’ve done this a couple of times before.

Here are some tips to bag that deal when the seller calls:

• Your greeting should not go like you are promoting your company. For instance, do not go answering your calls with “Good morning. Thank you for calling Real Estate Company.” Homeowners feel more comfortable sharing their home troubles with individuals, not companies. The proper greeting should go like “Good morning. Real Estate, this is Name speaking.” Your greeting should be more on a personal level to get the sellers to be comfortable with you.
• Get right on the point of how you can help the seller. He or she called for your help, after all.
• There are some homeowners who would want to ask you for information first before going unto the problem. Be patient with them and be courteous. These homeowners may feel upset about having to sell their property and may also not like to trust you. Concentrate on building trust between the two of you and there is a possibility that he or she may warm up to you about their real estate problem.
• Take down some personal information about the homeowners. You will be able to see whether or not the homeowner will face a possible foreclosure or not. They may also share that they are behind bills and loans. You might be able to help them in a different way with these information. For instance, you might be able to help the sellers better by offering to work with their lenders and avoid foreclosures.
• Ask if you could take a look at their property on the same day they called. This will show the homeowners your dedication and sincerity in helping them. Negotiations and talks may also go more smoothly when you are talking face to face and not over the phone. There is also the danger of losing the seller to other investors if you postpone looking at the property on another day and the homeowners are in need of immediate action.

It all goes down to getting that first phone call right. When you have successfully communicated to the homeowners and they warmed up to you, then that real estate deal is yours.

When selling your home, there are some things you need to remember to make sure that no one is inconvenienced or that your house is perfectly ready to be sold anytime! When on sale, the number one priority is for your house to be ALWAYS available for show. While this may seem to be inconvenient for you at times, you will be able to show your house to a lot of prospects and, thus, will enable you to sell your house faster.

Most real estate agents will call hours beforehand when showing your house to prospective buyers. However inconvenient it may be for you, the best decision would be to allow the agents show the house to the prospects as planned. Refusing might only lead you to lose a prospective buyer.

Here are other reminders for you when selling your home:

1. It’s Best Not To Be Home.

The prospective buyers will not be comfortable viewing your home when you’re around. They will feel like intruders. They may also not be up to being critical of the house because of the your presence.

If you cannot leave the premises, do your best to not intervene with the agent and guests. Try to remain out of sight. You can answer any inquiries from the agent or guests, but only when asked.

2. Turn On All the Lights In and Out Of the House.

Even if it’s broad daylight, turning on all the lights in and out of your house is recommended. The lights will help brighten up areas in your house which cannot be reached by natural sunlight. It will also prevent harsh shadows and will make your house more cheerful and bright to look at.

3. No Scented Sprays or Artificial Fragrances!

You never know if the guests are allergic to certain scents or fragrances. It may also offend others. If you want a pleasant smell around your house, opt for something natural. Or you can have a potpourri pot. You can also try turning on your stove burner or oven for a moment and putting a drop of vanilla extract on it.

4. Keep Your Pets Controlled Or Take Them With You.

To let the agents freely take the prospective buyers on a tour around your home, it is best for you to take your pets with you outdoors. It is not recommended for pets to go running around the property. Some prospects may not be too keen on having pets, or may be allergic.

It is also better to have a notice put up. If you cannot take your pets with you, keep them in safely penned area on your backyard. For household pets, you can put them in a room and put a sign on the door stating about the pets.

5. Keep Everything Tidy and Clean.

Make sure to empty your trash bins every time prospects come. Go through the bedrooms and see to it that the beds are made, and the curtains are well placed. Papers and scatters should be picked up and stacked neatly where it belongs. Do not leave empty glasses, saucers, or any unnecessary stuff around the house. The house has to be freshly dusted and swept or vacuumed. It is important for the house to be clean and to present it with a positive atmosphere.

There are places, like Las Vegas, where bitter homeowners resort to trashing and damages to the property as a means to lash out to unwanted foreclosures. We can hardly blame them for being so disagreeable and frustrated. Property financial problems like foreclosure is not what every homeowner wants.

As a result, many foreclosed properties are found to be left with walls with punched holes, dumped paint, and broken appliances. Some would even leave their pets inside and let it do the work.

One can hardly blame them. For homeowners who have built on their dreams with their property and home, a foreclosure is upsetting. A lot of people would decide to take all that they can get from their properties, even if by law it belongs to the bank. There are also those that go overboard, wreaking ultimate havoc by smashing light fixtures and leaving paint and more mess.

Real estate agencies have settled this problem by working on a win-win situation for both the agents and the frustrated homeowners. The current tactic to settle it in a peaceful way is to offer the homeowners money to leave and to leave the property in good shape. They will not be given the money, however, if the house was wrecked. This method is now informally known as the “cash for keys” approach.

The money offered (amounting to hundreds or even thousands of dollars) may be seen as a bribe. But it cannot be denied that for now this is the most agreeable solution for both parties. For the real estate agents, this helps in getting hold of the property without many delays and with minimal repairs. For the homeowners, they get financial help with the offered cash as they leave.

Banks and mortgage companies rarely go after the former homeowners of destroyed properties. They would actually go for the “cash for keys” approach because it will cost them less. The negotiations will also go faster and more peaceful for both parties.