HOW IT WORKS
Initiating the Purchase Process
We are honored that you have chosen to work with us. We will make sure that at each step in the process, you as the seller are confident and comfortable. Most importantly, we will ensure that you feel well-informed at each step of the acquisition. At Paint Rock, we pride ourselves highly on our reputation in the industry.
Timeline in Detail
Below is the standard timeline and steps of mineral or royalty interest related acquisition.
1. Executed PSA Returned to Paint Rock: We receive the Executed PSA back from you.
2. Due Diligence Completion: The due diligence process has many different moving parts, and requires at least 30 business days for full competion. We begin by sourcing all necessary documents from the courthouse to begin ownership verification from sovereignty (the date the State issued the original deed) to present date. From here, we begin compiling and organizing these documents into a runsheet, which is a comprehensive summary of the documentation. Taking the runsheet and the information from our landmen, we will then calculate the exact ownership of each tract. Finally, our Title Attorneys will review the runsheet, and verify calculations to confirm correctness.
3. Proposed Deed Review: We will send you a proposed Mineral & Royalty Deed for your review. Once agreed and approved, you will sign the Mineral & Royalty Deed and have it notarized.
4. Deed Execution: You will send us a digital copy of the signed, notarized Mineral & Royalty Deed. You will keep the original deed until you receive confirmation of funds via your preferred method of payment.
5. Funds to Seller: Once we receive the digital copy of the executed Mineral & Royalty Deed, we will then fund you the agreed purchase price in full via wire transfer, check, or cashier’s check.
6. Original Deed Overnighted to Paint Rock: Once you have received the confirmation of funds, you will then overnight the original deed back to Paint Rock Royalty, 1300 Summit Ave., Ste. 510, Fort Worth, TX 76102.
