This is a GREAT question – one I receive often, but not often enough! First, what you need is a professional forester, not a timber broker or licensed timber buyer. Timber buyers (less commonly known as timber brokers) are under no legal obligation to disclose the true value of your timber; essentially, it is a seller beware market!
Since 99% of forest landowners are not in the position to discern the fair market value of standing timber, it is ALWAYS in the best interest of a forest landowner to receive an unbiased appraisal by a professional forester (i.e., a college graduate with a degree in forestry).
Furthermore, it is almost ALWAYS (99.9%) in the best interest of the forest landowner to sell their timber as a sealed-bid, lump-sum sale. Why sell your timber to the first person who knocks on your door when you can “market” your valuable standing timber to an entire network of buyers and sawmills? This is what we foresters refer to as “marketing your timber”!
Okay, this is what you need to do next:
1. Contact a professional consulting forester today http://web.extension.uiuc.edu/forestry/technical_assistance.html
2. Walk your property with a forester and discuss your long and short term goals – this will allow the forester to assist you in achieving your objectives
3. Have your consulting forester conduct a thorough inventory of your forest land
4. Have your consulting forester develop a forest management plan; determine your “basis”; and appraise the timber
5. Per your goals and objectives, have your forester mark the individual, saleable trees with paint (on the stem and the stump)
6. Have your consulting forester develop a timber bid prospectus that neatly summarizes the timber sale including number of trees, volume, and quality marked for sale
7. Schedule a timber bid-opening date and have your consulting forester mail your timber bid prospectus to as many Illinois licensed timber buyers as possible
8. Award the winning bid and sign a legal timber sale contract
9. Require your consulting forester to monitor the timber harvesting operation and contract requirements 10. Evaluate your forest land after the harvest operation is complete
