With markets developing throughout the western United States and internationally, some people in the private and public sectors, have gained extensive experience with market transfers. Not all acquisitions have been easy. But with more than a decade of trading, a handful of people have learned a great deal.

WestWater Research has tapped that knowledge and experience to offer some guidance for buying and selling water. We provide advise on:

Finding trading partners is one of the biggest challenges most people face when entering the market. Unlike other more developed markets such as land, few methods of identifying potential buyers or sellers exist. To overcome this problem, some water management districts provide posting services for their members to exchange water. This service is limited and does little to help those who don't belong to a water district.

There are also a growing number of online opportunities for advertising water assets and needs. This is a relatively easy but not necessarily an effective method of advertising. Though increasing, few people are turning to the Internet to find water.

Personal contacts are the best way of find trading partners. WestWater Research is experienced in seeking out and finding trading partners that are right for you. The company utilizes a variety of strategies for identifying and marketing water assets. WestWater Research can save you a lot of time and frustration by systematically locating and developing trading partners.

Determining and negotiating fair market value for water is difficult given the limited price information typical of most water markets. With relatively few exceptions, most transactions are private; and information about prices is not readily available. WestWater Research can help overcome this problem. The company's market experience and knowledge of transactions combined with water appraisal techniques allows WestWater Research to provide you with an accurate assessment of current market prices.

Appraisals are becoming a common requirement for water transactions. Most federal and state agencies acquiring water require a water appraisal prior to price negotiations.

Finding a qualified appraiser can be difficult. Most appraisers specialize in land valuation and have limited experience with water transactions. They typically lack a solid understanding of the legal complexities of water and water rights that drive value. Also, land appraisers tend to rely on appraisal techniques that estimate the production value of water and ignore other market factors.

Currently, no uniformed appraisal standards for valuing water exist. However, WestWater Research has developed a rigorous approach that meets federal appraisal requirements. West Water has completed appraisals for the US Bureau of Reclamation and the National Park Service.

Water law and water rights are complex. This complexity can cause headaches and confusions even for the most experienced market player. Due to the way water right records are maintained, ownership of rights can be difficult to determine. Nonetheless, a simple review can assure that water rights are more than paper claims.

Many buyers require some type of legal evaluation to avoid purchasing invalid water rights. WestWater Research has a corporate alliance with one of the few companies that offer title searches for water rights. We also work with water right owners to establish that their rights are valid and in good standing.

There are a variety of acquisition and contracting options for buying selling water. It is important to consider and explore different leasing and purchase agreements that work best for you. Leases provide flexibility and a way to meet short-term and temporary water needs. Permanent purchases provide security for long term water needs and financing opportunities.

Leasing contracts come in a variety of shapes and forms. For example, option contracts and split-season leases are two of the more creative arrangements that are starting to be used in the market. These contracts allow multiple users to share water rights and provide a way to secure water supplies during critical periods without tying up substantial resources. WestWater Research can help identify acquisition options that meet your financial and project objectives.

Nearly all water sales must undergo a regulatory review. The time required for the review can substantially delay sales agreements. The regulatory review process is severely backlogged in most states. In addition, transfers are undergoing more scrutiny because of increasing environmental regulations and concerns. Some states offer special exemptions and rules for expediting water transfers. Doing some upfront work and analysis to identify exemption options and transfer requirements can save you substantial time and money during the regulatory review. WestWater Research provides water regulatory analyses identify and structure transactions that will move quickly through the regulatory process.