There are several types of online resources that you can access to buy or sell mineral rights. Most are auction-based and the sales cycle can be 4+ weeks from beginning to end. Most sites are just a listing platform, where you list your minerals but then have to conduct any negotiations by phone or email, either with a group of potential buyers or the website owner is acting on your behalf. Mineral owners seeking to sell or lease their minerals want a transparent and liquid market, an efficient communication and negotiation process, and confidence the transaction will close on time and that they will get paid. That is where Red River Hub comes in.
Red River Hub is a peer-to-peer transaction platform, meaning the negotiations all take place here on our platform, electronically and online. Once a seller receives an offer, they can reject, counter or accept. Depending on what the seller's action was, the buyer is then able to rescind, reject, counter or accept.
INITIAL SELLER VIEW WHERE SELLER HAS RECEIVED AN OFFER ON AN INDIVIDUAL PROPERTY FOR SALE.
When both parties have agreed and accepted a price and/or terms (i.e. for a lease), then the process moves into a 'transaction'.
It is then in the transaction steps where a Purchase Sell Agreement (PSA) is developed and agreed to and due diligence begins.