FarmerJamie - A new beginning

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
 
The housing market here is insane too. Houses are selling the day they’re listed, for more than asking price and people are waiving inspections. Mostly out of staters. Such a hard time to be trying to buy! My brother just bought a house, he was fortunate because the seller was a veteran and a pastor and he sold to my brother because he’s a fellow veteran, even though he wasn’t the highest bidder.
 
When DH and I were house shopping in 2013-2014 the market was like that. We offered $20K over the listing price, no contigency, and still werent able to get a foreclosed property. Its the first story in my journal.

We found our farm from a Craigslist listing. Sell by owner and they listed 2 farms together so the price was high enough to scare people off. Areal estate agent talked them into selling separately and we were able to buy ours without itever being listed individually.

It was a stressful time, but only one type of property was in demand at the time - hobby farms between $200K-$300K. Sounds like now everything outside of cities is in high demand!
 
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. .
 
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.
 
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.
 
I own all above and below me!!! Not unusual in some areas to find rights sold off to various parts....oil, gas, coal, etc. Just as easements. You need to research a deed before closing -- a reason for contingencies.
 
Mini Horses said:
I own all above and below me!!! Not unusual in some areas to find rights sold off to various parts....oil, gas, coal, etc. Just as easements. You need to research a deed before closing -- a reason for contingencies.
Click to expand...
Yes. The ex wife was a realtor. I have seen deeds separating the two. The auction wrinkle threw me off
 
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