Under Contract

[trickykitty]

Yay.

House contract is officially signed by both parties. My inspection is scheduled for tomorrow, and closing is currently scheduled for Fri, Sept 28. I won't know until probably some time tomorrow when the appraisal will be scheduled, as the bank is closed for the weekend.

Now, to retrieve boxes out of my car. Eileen managed to get me started a little yesterday on the whole packing side of things (we went through the silver ware - gotta start somewhere). I wasn't quite mentally prepared to start that process until I at least had a signed contract. Today I'm a bit more ready.

Also, my room's a mess.

Comments

Did you discuss the mineral rights ?

[disgruntledgirl]

You need protection against them selling the land out from underneath you.

Re: Did you discuss the mineral rights ?

[trickykitty]

I've confirmed surface rights stay with the home. Only mineral rights are being retained. While mineral rights trump surface rights in Texas, they would still have to reimburse me in order to disturb the surface up to a certain depth in order to access the minerals underneath. Regardless, it's unlikely that there will ever be something so valuable they would try to get at it through the property surface, which is why the gas companies set up their drills in unpopulated spaces. The cost to disturb developed land would make such an endeavor cost prohibitive.

It is still a bit ridiculous, as they would have received the bulk of their money when they signed the lease, unless they run the risk of having to pay penalties for breaking their lease with the gas company as part of the sale of the home. It's not something I care enough to fight over (read: pay extra for in order to get this property). From what I've been told, royalty checks aren't worth it enough to worry about. I could offer to pay a few thousand now in order to assume those rights, but given my position, I'd rather apply those few thousand dollars towards renovating the house instead of assuming a long-term investment that I may or may not be around to see profit from.

[my_window_seat]

YAAAAAAYYY!!! :: muppet flail :: If there's anything I can do to help, let me know. :)