Need to Relocate and Sell House Fast, Mineral Rights.

I don't understand how the mineral rights would not pass to the new owners of the house. If you sold the rights and then sold the house there would be conflict between the owners of each. The reason the companies won't buy the mineral rights when there is a mortgage is probably because they don't want there to be multiple parties to the deal.

Fort Worth definately has mineral rights! This is a really big deal in this area right now. FInd a reputable company. Slow down. Do you research. There is a bidding war going on right now. Shop yourself around a bit. The mineral rights are a bigger commodity than the house right now. Call your mortgage co and see if they have a clause in your contract prohibiting or limiting your ability to sell while you still have a mortgage.

I don't think I would go with one of those companies. From what I understand they usually buy homes that are trashed or extremely hard to sell and rock bottom dollar. You would probably be better to list your house with a reputable realtor that will negotiate their commission percentage right now. You could also go with a realtor like Deeb or Keller Williams (not sure if you have these specific realty companies in your area, but the realtors only get a 3% commission and you do more of the work than a realtor that typically gets a 7% commission.) You can also add your house to the MLS listing for a little extra money. We recently sold our home back in March. We didn't have a timing issue like you do, but our house sold in 3 weeks. Here are some tips that I am certain sold our house so quickly:
1)We decluttered HARD! If you haven't used it in 3 years donate it or trash it. Put things away that do not need to be out on counters, floors, etc. The buyer has all the control right now. They want it clean, they want bells and whistles within their price range and they want to steal it for a ridiculous price.

2)I hired a professional cleaning company (The Maids-they were fabulous and fairly reasonable on price too!) They gave our home such a 5 star hotel clean you just wanted to be in such an neat and orderly place.

3) Stage your home the best you can. Our house was 11 years old and we have 2 toddlers, so some things were showing some wear and tear, but in recent months and years we painted and replaced carpet and furniture with current styles. I also picked up cute baskets of silk flower arrangements and fresh flowers (got them at places like Garden Ridge, Hobby Lobby and Walmart) to add pops of color and coziness throughout the house.

4) We had a rock star realtor. We interviewed 4 realtors. We went with a gal that is seen everywhere. She aggressively marketed our house through the MLS, home shows, magazines, newspaper, websites, agent tours, open houses, fliers, etc. Yes we had to pay her a commission, but she worked her tail off for it. She was also really business savvy when it came to negotiating offers on our home and also the one we purchased. She was really helpful.

5) Be realistic on your listing price. You have to do your homework and go with what the market is right now. We looked at comps in our area and came in at a price that was right where homes were selling. We also were aware that we may have to drop our price some too. (which we did.) We lost nearly all the equity we had in our house. However, the upside is we basically made up for it when we purchased our new home. We are in the same city, so this may not work for you if you are relocating to an area that is more expensive than the one you are currently in.
6) Plant a St. Joseph statue in your yard. You can get them at any Christian store. We have always planted one when selling a home and have always sold homes within 4-6 weeks. My son just recently unearthed one in the backyard of our new home! LOL Good luck and I hope these tips help!
A.

I am assuming you have gas rights. We have some on a rental property. I don't know a whole lot about it, but I do know that most people expect the mineral rights when they purchase a home. Some land owners I know have tried to keep the mineral rights, so they can get the "free" checks when drilling starts. But most people bought the minerals rights from the original owner or refused to purchase houses without them. I have not heard of anyone selling their rights to a a random party. I am sure you have looked into it, but do some more research. Sounds like that's a way to be easily scammed. As far as the cash for houses, I would avoid that like the plague. They give pennies on the dollar. Real estate agents with time line guarantees often have big loopholes to get out of owing you any money. We recently looked into selling our house (we technically live in FW too). We were told that we would not be able to sell it for more than appraised value. Even if we were given a higher offer, most banks will not approve a loan for more than the appraised value. We interviewed seven real estate agents. They all said this same thing. This recently happened to my in-laws (in Saginaw). They were offered more than asking price, but had to sell for less than asking price because the bank would not approve the higher loans. I have no idea what your situation is, but I would look into other options. Renting out your home may be one thing to look at. Keeping you house and hoping the values go back up. Selling at a loss. Selling without a real estate agent. It takes a lot of research, but I imagine there are other avenues you may want to consider. Good luck.

When my home was for sale those snakes from cash for homes would call. They would ask how much I owed on the home, and when I told them it was none of their business they would say "we have to know what you own in order to make our offer", which to me meant they were hoping I was desperate and would sell for what I owe regardless as to whether it was a fair price or not.

Most places in Texas don't have mineral rights. Did you argue for mineral rights when you bought your home? You might want to check to make sure you have mineral rights. (I know we don't so if oil is found on our property, they can set an oil rig up in our backyard and only pay "rent.")

I've never used one of those quick sale places. Just make sure you go in with your eyes wide open.

*hugs*

ETA: Ok, I didn't realize y'all had mineral rights. I think it's awesome that you do and ridiculous that we don't...but what do I know, lol.

If you have mineral rights, wouldn't that interest potential buyers and bring up the value of your home? I know when we bought our house (new construction) we signed a paper agreeing that we didn't have any mineral rights. We were from out of state and were clueless about mineral rights, and now we're sorry we did that. Oh well, live and learn, right? If it were me, I'd get a property manager and rent it out until the market comes back. Just break even until you can sell it.

Okay I feel a bit stupid here and I am used to being a know it all. :p

I am going on oil as your mineral rights? Someone leases the rights from you? The value of the mineral rights should be included in the value of your home. Yes it can be broken down into land, dwelling, and mineral rights but generally when you speak of a homes value it is anything that cannot be separated. As such I don't think you can sell your mineral rights without selling the home.

Anyway cash for home companies give you pennies on the dollar for your home so not a fair price.

M.:

I've never had to sell a house in a hurry...

I've NEVER used the "we buy your house in 7 days or less" companies either...that would just scare the living bejesus out of me...but that's ME!!

I've never had to sell mineral rights either...I personally would contact a lawyer and find out what is in your best interest...I'm not sure what the haste is in moving so fast.

If I'd lost equity in my home and had to move? I'd rent it out instead of losing money on it or breaking even...but again - THAT IS ME!!!

You need to do what is best for you and your family...As I said - i would see a lawyer and find out what would be best for me and my situation.

GOOD LUCK!

Well seeing as Obama signed his 86th executive order (13575) on June 9 (which many feel is directly in line with the United Nations radical Agenda 21), you retention of Mineral Rights may be a mute point anyway. According to this "Executive Order), if the government decides that those minerals (water, gas, oil, etc) will greatly benefit the United States(the greater good) , they can take it without any compensation to the owner.

BTW, he signed this while the rest of the country had their eyes focused on Weinergate!

I realize you are under the gun and this is comparing apples and oranges.

But about 10 years ago we were looking at great house and some land. We did NOT buy it because of the mineral rights being held by the owners. Personally, I did not want a house with even land knowing that some outside person/company could come on at any time and drill, excavate, etc and I had nothing to say about it. They knew there was gas on the property but reserved the rights to search for anything else at any time and owned all rights to anything found.
Last I heard, they still had not sold it.

Those cash for houses, such as "we buy ugly houses", places give low values. Before the market really dropped, we got an offer--were not even selling--for way below market. I wold the guy he was nuts to offer such a low amount. He told me that the way they work is to buy really low and then they sell to investors, usually people they already have lined up for purchasing. He said most of their purchases are homes that need minimal repair but do need something done. So you have to be extremely careful. And most will not work to get your mortgage paid off. If they do buy where a mortgage is involved, you have to handle that part.

Would you consider or be able to consider renting the home?

They do NOT give a fair price.
Mineral rights are something that should NEVER be sold. I would get a lawyer and seperate the house and mineral rights. Did you realize that even if the well is not on your property you still get paid within x feet?

If it sounds too good to be true, it probably is... Those companies prey on those who are desperate. Of course they don't give a fair price.

If you have any extra money, I'd use it to talk with a bankruptcy lawyer and not a real estate/mineral rights attorney.