REAL ESTATE APPRAISALS / VALUATIONS

Before doing a valuation, we need to know the purpose of the valuation, so we can advise you accordingly.
For Example, if it is to obtain a Loan or Mortgage from a Bank or Mortgage Company it is important to find out from your Mortgage Company if they allow you to choose your own Valuator, because most Mortgage Companies have their own list of Valuators and Companies from which you have to choose.
However, in any case we don't do Valuations for Banks or Mortgage Companies for mortgage purposes.

We do Valuations for the following:
  • Home Insurances.
  • Legal matters, such as Conveyances (Deed Transfers), Wills or Deed of Gift.
  • Private purposes, if for example you want to sell your property and you would like to find out the value.
  • Governmental purposes.
  • Credit Unions (except for mortgages).
  • Attorneys-at-Law.
We do Valuations on the following types of properties:
  • House and land.
  • Land alone.
  • Small commercial buildings (e.g. home shops or parlours).
  • Commercial land.
  • Homesteads.
  • Agricultural land (without crops or produce).

I have to mention however, that we prefer to stay in the South Western Peninsula of Trinidad. To be precise; if you draw a line on the map of Trinidad starting From Retrench Village / Golconda (just to the East of San Fernando), straight down to the South Coast, we handle all areas to the West (left) of that line, all the way down to Icacos.
If you need a valuation outside of this area, we will refer you to one of our Associates handling your area.

The cost of a Valuation depends on what kind of property it is; e.g. land alone, house and land, commercial or agricultural land ... etc. Also where the property is located will determine the cost.
Unlike many of our Colleagues and Associates who charge part of a percent of the value of the property, we have set fees which are as follows:

PRICE TABLE
Residential land without building up to 1 acre: TT$700.00 (US$115.00).
House and land up to 1 acre: TT$0.50 (US$0.08) per square foot of the total floor area of the main building, all annexes, extensions, garages, storage spaces, enclosed or open covered areas, and all other buildings and structures belonging to the property. The minimum fee is TT$900.00 (US$150.00). A quick calculation will show that 50 cents (TTD) per square foot covers a floor area of 1,800 sq.ft.
Anything over 1,800 sq.ft. of floor area is an additional TT$0.50 per sq.ft.
Please note that for a residential house on a parcel of land less than 1 acre, we charge for the valuation of the house only. The valuation on the land is free, unless the valuation is on the land only without the building(s).
Commercial land up to 1 acre without building: TT$1,000.00 (US$165.00).
Commercial land over 1 acre without building: TT$2,000.00 (US$330.00).
Small commercial building on land up to 1 acre: TT$1.00 (US$0.16) per square foot of the total floor area of the main building, all annexes, extensions, garages, storage spaces, enclosed or open covered areas, and all other buildings and structures belonging to the property. The minimum fee is TT$1,500.00 (US$250.00). A quick calculation will show that 1 TT Dollar per square foot covers a floor area of 1,500 sq.ft.
Anything over 1,500 sq.ft. of floor area is an additional TT$1.00 per sq.ft.
Please note that for a small commercial/residential building on a parcel of land less than 1 acre, we charge for the valuation of the building only. The valuation on the land is free, unless the valuation is on the land only without the building(s).
Agricultural land alone:
  • Between 1 and 5 acres TT$800.00 (US$130.00).
  • Between 5 and 10 acres TT$1,000.00 (US$165.00).
  • Between 10 and 50 acres TT$1,200.00 (US$200.00)
  • Between 50 and 100 acres TT$1,500.00 (US$250.00)
  • Over 100 acres TT$1,800.00. (US$300.00).
Agricultural land with building: TT$0.50 (US$0.08) per square foot (of the building), with a minimum of TT$900.00 (US$150.00) for a Residential building, and TT$1.00 (US$0.16) per square foot (of the building), with a minimum of TT$1,500.00 (US$250.00) for a Commercial building or Farm.
Please note: The same sq.ft. coverage rules as above apply.

And additionally for the land:

  • Between 1 and 5 acres TT$400.00 (US$65.00).
  • Between 5 and 10 acres TT$500.00 (US$80.00).
  • Between 10 and 50 acres TT$600.00 (US$100.00).
  • Between 50 and 100 acres TT$800.00 (US$130.00).
  • Over 100 acres TT$900.00 (US$150.00).











Additionally if the property to be valuated falls outside the Wards of
Cedros, La Brea, Siparia or Erin a travel expense of TT$100. (US$16.) will be added.
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Please note:
Before or at the time we do the site viewing and inspection of your property, a 50% deposit is required. The balance is paid when you collect the Valuation Report.
In general the report will be ready within 5 to 10 work days after the site viewing and inspection.
In case you are not in Trinidad or you can not be present at the time of the inspection, the required documents can be sent by e-mail (see "Upon completion" paragraph below) and the payments can be made by bank to bank wire transfer, or Western Union.
However, at the time of the site visit and inspection, we do need someone to be present who is familiar with the property, to firstly show us the exact location.
Secondly, to avoid us being considered as trespassers.
And thirdly, in case there is also a building that needs to be valued, someone has to open up and let us in.

Documents required:

  • Copy of the Deed(s).
  • Copy of the Cadastral Sheet(s) (Surveyor map) (if available).
  • If the property is on Leasehold land; a copy of the Leasehold Deed.
  • If the property is on Rented land; at least 1 utility bill in the name of the owner(s).
  • And finally, if available, documentation of approvals for the following properties:
    1. New subdivided residential lots: Final Town & Country Approvals
    2. Older subdivided residential lots which are being sold for the first time: Final Town & Country Approvals
    3. Homes built after 1984: Town & Country Approval or the Completion Certificate.

Appointment Time:
It is preferred to book the appointment for the site viewing and inspection at least one week in advance, in connection with other bookings.
The day before the inspection visit, we will contact you to confirm.


Site viewing of land only:
We need to see as many accessible boundaries or markers as possible. If you have dogs, regardless of size, please secure them safely.


Inspection of a building:
We need to measure the exterior of the building, so please make sure all sides of the building are free of debris and can be accessed. Interior access to the entire building is also required for the inspection.
If you have dogs, regardless of size, please make sure to secure them safely.
If you have Tenants, please give them ample notice and a day before our appointment a reminder that access to their home is required for inspection.


Upon completion you have the option to:
  1. Collect the report at the office, either by yourself or a Lawful Representative appointed by you. This can be a relative or friend. In case of the latter two, they need to bring 2 forms of I.D.
  2. Have the report converted to a PDF file and e-mailed to you. Keep in mind however that if you need the report for Legal Purposes, it is recommended to have the original report with the genuine signature of the valuer.
  3. If you wish both the original report plus a report in PDF format e-mailed to you, an additional fee of TT$100. (US$16.) is required.
Please note: We do not send original reports by ordinary mail or Courier Services.

IMPORTANT!: In General Valuation Reports are valid for a period of 3 to 6 months especially for Legal purposes such as a Conveyance (Title Transfer). Therefore we recommend to only do a Valuation / Appraisal at the time you need it.


Questions about Valuations? Do not hesitate to contact us.
R. Drappier
c/o Siparia Real Estate Agency

#2 Country Trace Junction,
Fanny Village, Point Fortin 700722,
Trinidad, West-Indies.
Office: (1 868) 648-4929
Cell: (1 868) 750-7127

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