Q. Why/When should I get a mineral appraisal done on my property/site?
A. For some, an appraisal may be a requirement for estate planning, financing or taxation purposes. In other cases, the information in the appraisal report may be beneficial in a litigation or request for expert testimony. For those dealing with new or proposed property leases, or those who may be within a certain proximity of a producing property, an estimated value of a property or site can provide advantageous information for the owner.
Q. How are mineral values and lease terms determined?
A. There are numerous factors that go into determining mineral values and lease terms, including whether the property is producing, distance from wells, size of the property, etc. Information about the basics of determining values and lease terms can be found here.
Q. How much is my property worth?
A. Valuating a mineral property is dependent on many variables and is not always straightforward. RTC will develop a value for your property based upon several factors that are unique to each appraisal, including but not limited to:
1. Highest and Best Use
2. Current markets
3. Local/regional activity such as distance to known production
4. Property mineral assets
Q. Are you a drilling company? Will you buy my oil & gas rights or lease my property?
A. RTC is a mineral appraisal firm. We can appraise your oil & gas property, however, we do not drill, nor do we purchase gas rights or offer leases to landowners. If you need more information about oil & gas exploration in your area, please see our Oil & Gas Information Center.
Q. Does RTC do home appraisals?
A. RTC does not currently appraise homes; however we do offer land appraisals that would coincide with your mineral appraisal.
Q. How do I get an appraisal report?
A. Simply send us an email or give us a call, risk-free, to discuss your appraisal needs. We can then send you some information and paperwork to fill out. Upon receipt of this paperwork, all necessary documentation, and a deposit, we can begin working on your report.
Q. How long will it take to get my appraisal report?
A. This can vary depending on your particular situation. Typically, we require 30-45 BUSINESS DAYS to complete a report once we receive all of the appropriate documentation and a deposit. Please be aware that delays in sending us all of the necessary documentation may result in a longer turnaround time.
Q: What documents do I need to provide in order for you to start my appraisal report?
A: This varies by the type of report we are preparing–some of the documents for a typical coal, aggregate or specialty mineral report can include, but are not limited to: copies of site plans, lease documents for land, deeds for the property, tax parcel I.D., equipment lists, sale and financial records.
For typical oil & gas reports, some of the documents we request can include: copies of oil and gas lease(s), property deed(s), tax parcel ID number(s), all royalty statements, and maps of the property. For clarification on necessary documentation for your particular situation, please contact us.
Q: What types of appraisal reports do you do?
A: We specialize in subsurface mineral appraisals such as oil & gas, coal, aggregate, etc; however we also offer surface/land appraisals as well as mineral business/asset appraisals. For example, if you request a quarry operation appraisal, we can appraise the value of the aggregate as well as the land or equipment associated with that quarry.
Q. What do I get for my appraisal fee?
A. We provide a detailed report that not only includes estimated values for your property, but also explains key terms and processes used in determining the values in your report. Where needed, we may also provide imagery, and comparisons to similar properties.
Q. What is a site visit and why is it necessary?
A. In most cases, we need to visit a site or property in order to gather more information for your appraisal report, or to verify information provided to us. We may gather location data, take pictures, or take notes on the features of the property in order to compare it to similar properties in the area.