I would hire a consulting forester and get their advice before signing any contracts. Part of it is you have to know what you want, what your goals are for the land, what your timber is worth. There's no rush, a year isn't going to make a big difference generally.
Loggers look for red pine around here to cut for utility poles.
+3 on the forester. Another good thing to do is visit (the loggers) current and completed harvests and if possible, talk to the land owner. Then make your expectations or conditions of the completed harvest part of the contract.
Get your STATE/County Forester involved immediately - They are free. They should be able to tell you if ANYTHING is worth cutting. AND find a consulting forester if something IS worth cutting.
I've (w/ SWMBO) about 300 acres, about 100 acres were clear cut around 30 years ago. Due to NOT anybody who owned it then being able to make a decision most of the acreage just regenerated and is mixed hardwood with some pine. Those acres are JUST getting to the stage they may be good for pulpwood.
We've about 70 acres that were clearcut in 2005 and replanted in pine. It's almost ready for thinning, and with luck in 10 years for partial harvest.
BE very careful of having a logging company "thin". Often they high grade and leave virtually nothing.
Also like a prior poster wrote DON'T trust a logger who asks you to sell.
We had a 14 acre parcel in Leakesville, MS that the MIL, BIL and SWMBO owned. So I had no say in it. They wanted to get rid of the land AND timber. Two years ago a Leakesville logger started calling the now 90 year old MIL, who told her to call my wife. His FIRST offer was $15K for the timber, verbal. I blew up at that but they proceeded SLOWLY over my objections (too much hassle to get bids, ta da, ta da).
Then FINALLY it got to the point last spring they told him to send a contract to my wife. He snail mails the contract to my MIL, asking for JUST her signature, and in the finer print it's $15K for timber AND THE 14 acres. Still, MIL & BIL were ready to sign and I REALLY BLEW UP. Next I'm in the doghouse BUT they consented to get more bids.
The first logger calls us (remember it's 2014) and tells how the MIL and SWMBO told him they wanted to get rid of the land AND the trees were heavily damaged by a hurricane in 2012 thus his $15K for timber and land was a generous offer.
Google earth shows in 2013 that either the trees were not damaged or they grew back to maturity in 1 year.
End result with more bids they got $45K plus. I'm out of the doghouse. Now, MIL & BIL get to complain about taxes.
Not all loggers are scum of the earth, but I think some make the extra effort.
AND while I'm on my soapbox a bit of advice - get your forest "certified".
Cut and paste from MSU
Forest Certification Systems in Mississippi
Forest certification assures buyers that timber was managed according to sustainable social, economic, and environmental
standards. Certification is a voluntary process with standards that typically cover key values such as these:
protection of biodiversity, species at risk, and wildlife habitat
sustainable harvest levels
protection of water quality
prompt regeneration
In turn, producer risks are reduced regarding product diversification, water use decisions, certified marketing, and strategic planning. Chain-of-custody certification
tracks the percentage of fiber from certified forests, certified sourcing, and post-consumer recycled content.
Forest certification programs are becoming increasingly popular among landowners and forest products companies. In some cases, certification is a requirement for
purchasing wood.
I was told the big box stores (HD, Lowes) are being pressured to buy from "certified" forests. So I had my forests "certified" for free by my County forester.