Selling or Letting your Property. 

To list a property with us the following procedures apply:

First of all, it is very important for you to know that any time we take a property on our listings, a Contract, which we call a "Sales or Rental Agreement" has to be signed between the Vendor/Landlord and our Company, in which basically is stated that when the property gets sold or rented, regardless of who finds the buyer/tenant (or who the buyer/tenant is) we are entitled to our commission which is 5% of the final selling price in case of a sales, or the First Month's rent in case we find a tenant for a period of 1 year or longer. If the tenant stays less than a year, our commission is 10% of the rental income (see scale below).

On Sales: 5% Commission on the first Two Million TT Dollars of the total selling price.
4% Commission on the next Three Million TT Dollars of the total selling price.
3% Commission on any amount of the total selling price in excess of Five Million TT Dollars.
2% Commission on Multiple Unit Listings, provided that the total volume of the sales exceeds Five Million TT Dollars.

On Rentals: First Month's rent on Rentals of one year and over.
10% Commission of the total rent for Rentals of a fixed period less than one year.
15% Commission of the total rent for Tourist Rentals of a fixed period less than one year.

The Sales or Rental Agreement can be e-mailed to you (if you are abroad) and should be signed by the Owner of the property (the person whose name is on the deed) and sent back to us via ordinary mail or DHL. If you are in Trinidad, just call us for an appointment.For Sale
If there is more than one owner to the property, a statement of consent to the terms and conditions of said Sales Agreement, signed by the co-Owners will be sufficient.

Before being able to Sell a property we need the following documents from the Vendor:

  1. A copy of the Deed (Certificate of Title/Ownership).
  2. The original receipt of the last paid land (and building) taxes.
  3. And if possible a copy of the Cadastral Sheet (the survey plan of the property).

The Sales/Rental Agreement is for a minimum period of 3 months, there is no maximum. After the agreed period the Sales/Rental Agreement does not expire, but continues on a daily basis until we get a written revocation notice from you, stating that you no longer wish to use our services.
This way you do not have to worry about renewal, because 90 days is a relatively short period in de Real Estate Industry especially for the Sale of a property.House
You can not cancel the Sales/Rental Agreement during the agreed period. If you have to cancel due to unforeseen circumstances within the agreed period, you will be billed for expenses made by us up to the day of cancellation (this will mainly be advertising).

However, if after the agreed period we are not successful in finding a buyer or a tenant for your property, and you wish to cancel the Agreement, there will be no charge to you.

Your property will be listed on a "Multiple Listing System" (MLS), which means that all our colleagues throughout Trinidad & Tobago who are members of AREA (the Association of Real Estate Agents), will have your property for sale or rent, which of course enhances the chances of finding a buyer/tenant.
In case one of my colleagues finds a buyer/tenant, there is no additional commission or fee to be paid.
As an additional service to our customers, we advertise your Property FREE of any charge on our Website for as long as we have it as an Exclusive Listing.

Besides the FREE WebSite advertising, another good reason to list your Property on our WebSite is because the tremendous amount of hits it gets on a daily basis. Last year alone (2005) we had 7,556,455 hits. Further, when doing a Web Search for "Caribbean Homes Trinidad Tobago" on the popular Google Search Engine, our WebSite comes up as #1 of the non-sponsored Links, out of over approx. 7- to 800,000 websites! See for yourself: Google Search

When a buyer is found, We enter into an Agreement of Sale and Escrow Agreement (see "Buying & General info" page), at which time a 10% deposit is made by the Purchaser.
In case the 10% deposit is held in Escrow by the Agency, the Agreement of Sale and Escrow Agreement are made by the Agency at no charge, and the commission has to be paid upon completion of the sale.
To simplify things, the commission will be taken out of the 10% deposit, and upon completion of the sale the Agency will have a cheque for the Vendor being the balance of the Deposit.

If however, the Vendors insists that the deposit is made directly to them, or to be held in Escrow by their Attorney, the Agency is entitled to the full commission at the time the Vendor or his/her Attorney receives the 10% deposit.
Also in this case the Agency will not make the Agreement of Sale and Escrow Agreement. This basically means that the Agreements have to be made by an Attorney at an additional cost.

If you are not in Trinidad, the sale can be completed without you having to come down to close the sale. At the time of the Conveyance (Transfer), the legal documents will be send to you. These documents have to be signed by the owner at a Notary Public in the country where you reside and sent back to Trinidad.House
If you are in T&T at any time before the property is sold, or at the time you put it up for Sale, you can also appoint a Legal Representative a.k.a. Power of Attorney (P.o.A.) in Trinidad or Tobago, who can handle the entire transaction for you, so there will be no delays in the completion of the sales. A P.o.A. has to be applied for in Trinidad or Tobago by a local Attorney-at-Law, who has to register the P.o.A. at the Registrar General in Port of Spain.
Of course, the above is not applicable if you are in Trinidad to do the Conveyance personally.

In case of a Rental, the Rental Agreement or Lease will be sent, e-mailed or faxed to you after which you sign and return it to us together with a copy of your I.D. Card, Passport or valid Drivers Permit.

The best way to communicate with us is via E-mail or by phone (1 868) 648-4929 / 750-7127 and the best time to call is from Monday to Friday between the hours of 09:00 a.m. to 04:00 p.m. (Trinidad Time).


SELLING OR LETTING YOURSELF?
Click the button below if you wish to advertise your property on our WebSite, get your OWN FREE
WebPage, sell / let it yourself and forgo paying a commission (This applies Worldwide).

If you are a Real Estate Agent, and you wish to advertise your Listings on this WebSite,
Please contact us for our SPECIAL RATES, and options.

Questions about selling or Letting your Property?
Do not hesitate, contact us.

R. Drappier
c/o Siparia Real Estate Agency

#8 Country Trace Junction,
Fanny Village, Point Fortin,
Trinidad, West-Indies.
Office: (1 868) 648 4929
Cell: (1 868) 750 7127
Fax: (1 868) 648 2330.

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