FarmerJamie - A new beginning

FarmerJamie

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Wow, the wife pulled up a property listing that was posted at 8:00 am on Thursday. By 11:15 there was a contingent offer on it. It was not deal by any means. Something smells fishy
 

FarmerJamie

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So the property wackiness continues. I commented previously on properties going to auction instead of the traditional realtor route.

Newest twist. Property auctions are now two phase in some instances. First, the property is sold without mineral rights..then immediately after that, the mineral rights are auctioned off. This is happening more and more down in the area with a lot of potential fracking. .
 

NH Homesteader

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That’s insane! I never would have thought of that being an issue (because that isn’t a thing here), but that could cause major trouble down the road. That’s just horrid. Ugh.
 

FarmerJamie

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To clarify, the new purchaser has two choices, since the seller gets the proceeds. Either join in the insane mineral rights bidding, or take the chance of the property being used without their approval down the road.
 

FarmerJamie

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I was at an auction where announcement was... property sold. Then rights sold. BUT then together, with parcel being sold to the together bid, IF IT WAS MORE than two single combined. Now that was real first for me!! WTH??? Only time I've heard that.

Strange.
This is crazy. I talked with someone at the particular auction, the auctioneer was chastising the crowd to bid higher on the property itself. Evidently got a lot of pushback.
 
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