Picking the Right County to Send Purchase Offers to Owners (CFFL 0257)

Picking the Right County to Send Purchase Offers to Owners Jack Butala: Picking the Right County to Send Purchase Offers to Owners. Every Single month we give away a property for free. It's super simple to qualify. Two simple steps. Leave us your feedback for this podcast on iTunes and number two, get the free ebook at landacademy.com, you don't even have to read it. Thanks for listening. Jack Butala: Jack Butala with Jill DeWit. Jill DeWit: Hello. Jack Butala: Welcome to our show. In this episode Jill and I talk about picking the right county to send purchase offers to owners. Jill, great show today. Let's take a question first though, posted by one of our members on SuccessPlant.com, our online free community. Jill DeWit: Cool. Milan wrote and asked, "A guy agreed on my offer for 40 acres of land but he wants to keep half of the mineral rights. I think I might kill the deal on the sell side when the potential buyer sees this on the deed. It could seem like 'buy your own land but it's not really 100 percent yours.' What do you guys think? I'm going to tell him no mineral rights or no deal in a very nice way, like we just want to mediate there and no diggers are-" Oh, meditate there, excuse me. Wait, I want to go back. "I'm going to tell them no mineral rights or no deal in a very nice way, like we just want to meditate there and no diggers are allowed." That's hilarious. Like we're just going to pop up and start digging and saying, "Excuse me." Jack Butala: I think some of this land is used for stranger things than that. Jill DeWit: That's really cute. Jack Butala: I don't know, what do you think? Would you let it kill the deal? Jill DeWit: No. I wouldn't, because most of my buyers, they're worried about where to put their cabin, they're not thinking of it like, "there's gold in them there hills." Jack Butala: It never gets discussed. Jill DeWit: Exactly. Jack Butala: I've discussed this topic maybe twice in 15 years with a seller or buyer. Jill DeWit: You know what I tell them? I'm sure you do the same thing. If it ever comes up I'm like, "You know what? Let's just assume there are no mineral rights," because most of the time I don't. If there's something down the road that you get, yea, that's a bonus, but I'm really not picking up land for that nor do I care to keep it. It's not on my criteria. Jack Butala: I'm surprised it even came up at all. I think if it came up with us and I was actually doing the deal, I think I would tell the seller, "Thank you, but I'm going to move on." Jill DeWit: You can do that too. Jack Butala: I think that Milan's probably relatively new. That's fine, I just think this is a way to complicate a first or second or third or fourth deal. I think you've said it a million times, Jill, it's like, "Come on, man. Let's just do a simple deal." First 1, 2, 3, 4, 5 deals, let's just be simple about it. Jill DeWit: Mm-hmm (affirmative). You may be a hundred deals in and this is the first one that comes up too. Sometimes these things just don't come up like we said. Jack Butala: I guess my question would be too, and I don't want to get all philosophical and brainy about this, I really don't, but who really knows who owns what mineral rights? This has been a deal for ... Unless you have, staring at a physical copy of all the deeds, because that's how mineral rights get conveyed. They get conveyed right on a deed. It'll say, "accept mineral rights" or whatever. You just really, truly don't know. Jill DeWit: Mm-hmm (affirmative). Jack Butala: I bet you a dollar this guy doesn't really own anything. Jill DeWit: Yeah, that's true. He thinks he owns it but it could've been 2 transactions ago which were 50 years ago. Somebody else has it. Jack Butala: When everybody's digging for gold in California, all these mineral rights and these deals got ... There's tons and tons of stuff that went on and not all of it got recorded, if you know what I mean.