Legal Question in Real Estate Law in Texas

You should hire an appraiser to tell you what a fair asking price should be. The cost depends on a very large number of factors, such as:

1. whether they want surface rights, mineral or both

2. whether there is production in adjacent land

3. whether there is a pooling order

4. the nature of your ownership interest (fractional or whole)

And the list goes one. Once you have an appraised value, you should then contact legal counsel to determine your rights to the property, the deal's structure, and review the paperwork.