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G.A. Farrell & Associates Ltd, a leading firm of Chartered Valuation Surveyors, specialized in the valuation of properties in Trinidad & Tobago. Banking details Please deposit make the deposit to any of the following accounts below: Republic Bank Limited Account: #510001024801 / G. A. Farrell & Associates Limited (Chequing) RBC Royal Bank Account: #100088110015889 / G. A. Farrell & Associates Limited (Chequing) First Citizens Bank Account: #2160780 / G. A. Farrell & Associates Limited (Savings)

G.A. Farrell & Associates Ltd, a leading firm of Chartered Valuation Surveyors, specialized in the valuation of properties in Trinidad & Tobago. Complaints Handling Procedure (CHP) The Complaint’s Review Period’ – In the event of a dispute arising out of or related to this Agreement the Client must complete and submit the Complaints Form, a copy of which would be provided upon request. Subsequently, a Director/Senior Valuer will respond to your complaint within 5-7 working days; If the issue is not resolved via the Complaints Review Period either of the parties to this Agreement shall submit the dispute to non-binding mediation using the services provided by the Trinidad & Tobago Dispute Resolution Centre (‘the DRC”) and shall make a good –faith effort to resolve the dispute through the mediation process in accordance with the rules of the DRC. Each party shall bear its own costs in respect of the mediation; In the event the parties are unable to resolve their dispute through mediation after 14 days from the reference to mediation or such further period as the parties may mutually agree in writing, such dispute shall be settled exclusively and finally by binding arbitrator to be jointly appointed by the parties; In the event either Party fails to agree to the appointment of an arbitrator such arbitrator shall be appointed, upon application by the interested party, by the DRC. In the event either Party fails to agree to the appointment of an arbitrator such arbitrator shall be appointed, upon application by the interested party, by the DRC. The award of the arbitrator shall be final and shall not be subject to any appeal or challenge whatsoever. The arbitrator will not be required to file his award with anybody or authority whatsoever. In the event arbitration proceedings are initiated under this arbitrator clause, pending such proceedings and until a final award is rendered pursuant thereto, any subsequent controversy arising between the Parties shall be exclusively submitted for final decision by the arbitrator in the arbitrator proceedings already pending. The arbitration proceedings shall be conducted in accordance with the Arbitration Act Chapter 5:01 of the Laws of Trinidad and Tobago or any statutory modification thereof. Fill our the complaints form below if you would like to submit a formal complaint: Valuation Report Reference Number Address of Subject Property Name Main Contact Number Email Address Mailing Address Status of Individual Submitting Complaint Are you the: Nature of Complaint Choose an option Details of complaint N.B. Complaints concerning the opinion of value must be supported with transaction evidence such as recent sales or rentals In submitting this complaint, I understand and accept that the matter will be handled in accordance with the Complaints Handling Procedure (CHP) of the Terms of Engagement under which the valuation exercise was conducted. Submit Thanks for submitting!

G.A. Farrell & Associates Ltd, a leading firm of Chartered Valuation Surveyors, specialized in the valuation of properties in Trinidad & Tobago. Property Tax Quick Facts General Information NOTE: Please be advised that the Valuation Roll 2021 exercise is solely conducted by and for the Valuation Division of the Government of the Republic of Trinidad and Tobago and therefore, does not apply to our business of providing valuations to clients. Kindly visit the Valuation Division’s website at https://valuationdivision.gov.tt/ for more information. Thank you. All Property Taxes between 1st January 2010 and 31st December 2017 have been waived. It has been announced that the ‘new’ Property tax for 2018 has also been waived. The Government of Trinidad & Tobago expects to commence the collection of property tax in fiscal 2021. A new Valuation Return Form has been designed which requests more information than the previous one. There has been no official word from the Ministry on when property owners would have to file this return. There is a fine of $5,000 for failing to submit this form when requested. Property owners will have 30 days to object to their assessment. There will be a Valuation Tribunal appointed to hear objections. The Valuation Tribunal will be headed by an Attorney and will comprise four other persons, two of whom will have qualifications and experience in Valuations. There is a $50,000 penalty for leaking of owners’ information. Nevertheless, a big drawback for homeowners is that unless the rental data supplied to the Commissioner of Valuations on the new Valuation Return Form is shared, it will be very difficult to prove an assessment is too high. This puts homeowners at a severe disadvantage as while property sales are registered and available to the general public, rental leases are hardly ever registered. Rental information is therefore extremely hard to come by and one often has to rely on verbal information from other property owners and real estate agents. Further fact sheets will be issued as and when additional information becomes available and will be published on this website. Your Property Tax on a residence will be calculated as follows: The monthly rental value (unfurnished) of your home will be determined by the Commissioner of Valuations. This monthly rental value will be multiplied by 12 to determine the annual rental value. subject to a minimum of $18,000. It is currently proposed to deduct 10% from your annual rental and the remainder will represent your taxable value. It should be mentioned that this deduction can be changed at the discretion of the Board of Inland Revenue. 3% will be calculated of your taxable value and this will represent your Property Tax. For commercial properties, the method remains the same but 5% of your taxable value will be your Property Tax

G.A. Farrell & Associates Ltd, a leading firm of Chartered Valuation Surveyors, specialized in the valuation of properties in Trinidad & Tobago. Methodology Appraisal Process In broad terms, valuation theory recognises three distinct methodologies (or approaches) in valuation. These are the market approach (sometimes known as the direct market comparison approach), the income approach, and the cost approach. Market Approach (a.k.a. Direct Market Comparison Approach) “An approach that provides an indication of value by comparing the subject asset with identical or similar assets for which price information is available”. The Market Approach measures the value of an asset by comparing recent sales or offerings of similar or substitute property and related market data. The similar transactions method uses valuation data based on historical transactions that have occurred in the subject asset’s direct or related industries. The derived data are then adjusted and applied to the appropriate operating data of the subject asset to arrive at an indication of value. This Approach is very popular in many assignments as it is reflective of the interplay of buyers and sellers in the open market. In order for this approach to be reliable however, it is necessary for there to be a significant number of sales of properties similar to the one for which the assignment is being carried out. The Income Approach “An approach that provides an indication of value by converting future cash flows to a single current capital value”. The Income Capitalization Approach is based on the principle that the value of a property is indicated by the net return to the property, or what is also known as the present worth of future benefits. The Income Capitalization Approach considers a property’s potential cash flow and analyses the present worth of the anticipated future benefits to the owner over an assumed holding period. The Income Approach is of considerable importance in appraising commercial properties. Most purchasers of this type of property are generally concerned primarily with an income stream, which is what this approach relies on. The disadvantage of this approach is that it is sometimes based on projections of the future. The Cost Approach “An approach that provides an indication of value using the economic principle that a buyer will pay no more for an asset than the cost to obtain an asset of equal utility, whether by purchase or construction”. The Cost Approach is based on the principle of substitution and is valuable in distinctive properties for which there are either very few or no sales of similar properties. Its drawbacks are that it does not sufficiently rely on market preferences, and in cases of older properties, the quantum of depreciation to be charged is not easily identified. This approach to value follows the following steps: Determine the value of the site as if vacant; Calculate the replacement cost new of the improvements; Estimate the depreciation form from all causes (physical, functional and external); Add the site value to the depreciated value of the improvements. As will be seen from the above, all three approaches vary in effectiveness for specific assignments. Although all three approaches may give reliable indications of value on occasions, frequently, one or two may be totally inappropriate. In arriving at an estimate of value of the subject property, all of the above approaches were considered and one or more of them utilized. Definitions Market Value : The estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arm’s length transaction, after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion. Market Rent: The estimated amount for which a property would be let on the valuation date between a willing lessor and a willing lessee on appropriate lease terms in an arm’s length transaction, after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion. Replacement Cost : The cost of obtaining an alternative asset of equivalent utility excluding retaining walls, boundary walls and fences, swimming pools and other water features, site clearance, professional fees and VAT. Contributory Value : The contribution made by a particular feature or component to the value of the whole property. Marketable Title : A title not subject to reasonable doubt or suspicion of invalidity in the mind of a reasonable, intelligent person; one which a prudent person guided by competent legal advice would be willing to accept and purchase at a market value. Highest and Best Use : The use of an asset that maximises its productivity and that is possible, legally permissible and financially feasible. IPMS 1: The Floor Area measured to the external extent of the External Walls and to any Notional Boundaries, External Floor Areas or Sheltered Areas. – International Property Measurement Standards: All Buildings dated 15 January 2023. This standard of measurement is similar to the former Gross External Area (GEA).

G.A. Farrell & Associates Ltd, a leading firm of Chartered Valuation Surveyors, specialized in the valuation of properties in Trinidad & Tobago. Contact Us We trust all the information provided to you proves to be helpful. Should you require any further assistance you may contact us at: contactus@gafarrell.com . For resumes or applications, kindly submit to hr@gafarrell.com .

G.A. Farrell & Associates Ltd, a leading firm of Chartered Valuation Surveyors, specialized in the valuation of properties in Trinidad & Tobago. Leave A Review Share your experience with us Full Name Phone Your email address Reference Number How would you rate your experience? Your Feedback Submit Thanks for sharing! We always strive to improve.

G.A. Farrell & Associates Ltd, a leading firm of Chartered Valuation Surveyors, specialized in the valuation of properties in Trinidad & Tobago. FAQs Note: ‘End-user’ refers to the actual person or entity that will be relying on the Valuation Report e.g. a lending institution or statutory body. What are the requirements to make a Valuation Request? For a typical Valuation Request, we require the following documents: A copy of a valid form of Identification (ID, DP or Passport) A copy of Deed / Title document or any Lease(s) A copy of Survey Plan / Cadastral Sheet Please note that additional documents may be required based on the type of property and/or the purpose of valuation. What is the fee for a standard residential valuation request? Our fee is dependent on the value of the property and in most cases, the following fee structure applies: $2,200 for the first $500,000 of the opinion of market value and ¼ of 1% of the excess over $500,000 plus VAT, subject to a minimum fee of $2,200 plus VAT. For example, if a property is valued at $1M, our fee would be $3,450 plus VAT @ 12.5%. Therefore, the total cost would be $3,881.25. Please note that our fees may vary based on the type of property and/or the purpose of valuation. How long is a Valuation Report valid? Typically, a valuation report is valid for six (6) months however, it depends on the requirements of the ‘end-user’ and their informed opinion of the validity of the Valuation Report as time passes. Where are you located? We have five (5) branches located throughout Trinidad & Tobago and they are as follows: #23 Ariapita Avenue, Port of Spain, Trinidad, W.I. #51 Harris Street, San Fernando, Trinidad, W.I. 1st Floor, No. 9, Mulchan Seuchan Road, Chaguanas, Trinidad, W.I. #51-59 Tumpuna Road, Shops of Arima, Inner Mall Shops, Arima, Trinidad, W.I. Unit 5, Tateco Building, Wilson Road, Scarborough, Tobago, W.I. What is the turnaround time for a standard Valuation Request? Upon receipt of all required documents and access, delivery of the final report will take approximately 10 working days (excluding weekends and public holidays). Depending on the property type and location, additional time may be required. Why would I need to have my property valued? You may require a Valuation Report for various reasons, some of which are noted as follows: An opinion of what you should pay if you are purchasing a property Mortgage purposes for a long-term loan To determine a replacement cost of a building for Insurance purposes To finance the Construction of a new building If selling a property, to have an opinion of the sale price for marketing purposes An accurate assessment of the applicable Stamp Duty Tax (e.g. when transferring ownership of a property) A record of Assets for accounting purposes such as in a Balance Sheet Statutory requirements – Probating a will or litigation Are your Reports accepted by ‘end-users’? Yes, we are on the panel of approved service providers to all the major Mortgage Lending Institutions and Statutory Bodies. What are the methods of payment? Payment can be made at our offices (San Fernando, Chaguanas, Port of Spain, Arima or Tobago) via cash, debit card, credit card (also, over the phone or via our website), cheque, online transfer or bank deposit. Do I need to make an appointment before visiting the office? It depends on the purpose of your visit. Generally speaking, no appointment is required to visit our office. Our offices are open Monday to Friday from 8:00am to 4:00pm (GMT-4), excluding Public Holidays. For the purpose of requesting a valuation, you may opt to do this online via our online form here . Can someone (otherwise called an agent) make a valuation request on my behalf, I being the client? Yes, someone can make a valuation request on your behalf however, we require a valid photo ID from you, the Client as well as the Agent. What are the requirements to collect a completed Valuation Report? In order to collect the completed Valuation Report, the outstanding balance on fees must be settled in full. Kindly note if someone (an Agent) is collecting the Valuation Report on your behalf, we require a letter authorising the Agent to collect on the client’s behalf as well as a copy of a valid photo ID for the Agent. Do you value agricultural land? Yes, we value agricultural lands generally once there is a motorable access to the lands and Cadastral Survey Plan is available. As such, all requests will be screened prior to acceptance. Kindly note that we only value the surface rights (i.e. freehold or leasehold interest) and not what is grown in the lands such as crops and timber trees. What are comparables? RICS Valuation – Global Standards December 2024 defines Comparables as “an item of information used during the valuation process as evidence to support the valuation of another, similar item. Comparable evidence comprises a range of relevant data used by the valuer to support a valuation.” The primary source of comparables is Agreements-of-Sale. If I instruct that I need my Valuation Report to come in at a particular figure, can the company facilitate this? It would be unethical to accept such an instruction. Our Valuation Opinion is based on consideration of all relevant factors including the analysis of comparables (defined above). It would go against best practice to report a valuation opinion that does not follow this process. This is supported by the fact that G. A. Farrell & Associates Limited is a RICS-regulated firm with a duty to uphold international standards [RICS – Royal Institution of Chartered Surveyors]. When conducting a site visit, does the Valuation Officer need access to all rooms? Yes. Access to all areas of a building allows for a complete visual inspection of the premises which contributes to a realistic and reasonable assessment of the market value of the property. If I commissioned a Valuation Report to determine a price for my property, can a prospective purchaser use this Valuation Report e.g. to secure a mortgage? As per international standards, a Valuation Report can only be done for one specific purpose. As with the example above, a Valuation Report done for the specific purpose of sale, should not be used for mortgage purposes. We recommend that a prospective purchaser secure his / her own Valuation report. I did a valuation of my property previously and I need an updated Valuation Report. Can the date on my initial Valuation Report be changed? The initial Valuation Report would have been done at a specific date. If we changed the date on the Valuation Report to a later date, this means that the same Valuation Report exists at two different dates. This would be unethical and therefore, we cannot simply change the date on a pre-existing Valuation Report. As such, we advise that a new Valuation Report be commissioned. If my property was already valued in the past by G.A. Farrell & Associates Limited, what will it cost to get an updated Valuation Report? In cases where we have done a Valuation Report on the same property within the last three (3) years, and for the same client, a discount of up to 30% of the fee is given, subject to the applicable minimum fee. For properties valued within the last four (4) to six (6) years, and for the same client, a discount of up to 15% of the fee is given, subject to the applicable minimum fee. Do you also prepare Quantity Surveyor’s Reports? Yes, we do prepare Quantity Surveyor’s Reports on structures that have not exceeded its foundation stage of construction. However, please confirm with your lending institution that we are on their panel of approved Quantity Surveyors. If you require both a Proposed Building Valuation and a Quantity Surveyor’s Report, confirm also with your lending institution that they will accept both Reports from our firm. Do you conduct valuations for properties without Town and Country Planning Division (TCPD) approvals? In the absence of TCPD approvals, once reasonable and practical, we can value the property, but our opinion of value would be based on the following assumption: “All relevant approvals have been obtained from the relevant authorities.” How should I choose a valuation firm? It is important that when a valuation report for a specific purpose is required, you ensure that the Valuation Firm selected is approved by the ‘end-user’. Qualified Valuers will be chartered (i.e. have a professional RICS designation, MRICS or FRICS), a RICS-registered Valuer and may also be a full member of the Institute of Surveyors of Trinidad & Tobago (ISTT), as evidenced by the designation, MISTT.

Gafarrell.com is the official website of actor Gareth Farrell, showcasing his work in film, TV, and theater. Explore his biography, video reels, and photo gallery, and stay updated on his latest projects and performances. Perfect for industry professionals looking to connect. Past Projects The Company is geared towards its continued development and looks towards the expansion of its services. This will ultimately benefit you, the Client. In this regard, and among other endeavours, the firm has committed to forming strategic alliances with leading international valuation firms.

G.A. Farrell & Associates Ltd, a leading firm of Chartered Valuation Surveyors, specialized in the valuation of properties in Trinidad & Tobago. Online Valuation Form

G.A. Farrell & Associates Ltd, a leading firm of Chartered Valuation Surveyors, specialized in the valuation of properties in Trinidad & Tobago. Closing Cost Estimates Rough Estimate on your Closing Costs for the following: Notes: Figures for Stamp Duty on Conveyance do NOT apply to First-Time Buyers Assumes purchase price is the same as the value of the property. No provision has been made for Mortgage Indemnity. Assumes different attorney used for conveyance and mortgage & NOT RPA The figures provided above should be used solely as a guide and is Private and Confidential and intended for your use only. G. A. Farrell & Associates Limited accepts No liability whatsoever if it is subsequently determined that the sum stated above is inaccurate Neither the whole nor any part of this estimate or any reference hereto may be included in any published document, circular or statement, or published in any way, without the express permission in writing from G. A. Farrell & Associates Limited.

G.A. Farrell & Associates Ltd, a leading firm of Chartered Valuation Surveyors, specialized in the valuation of properties in Trinidad & Tobago. Our Story G.A. Farrell & Associates Limited is a leading firm of Chartered Valuation Surveyors who specialize in the valuation of properties in Trinidad and Tobago. In 1976 Gordon Farrell, FRICS, retired from his career as the Director of Surveys, Land and Surveys Department. With over 30 years invaluable experience, he established G. A. Farrell & Associates Limited. Since then the company has grown to become one of the foremost firms of valuation surveyors in Trinidad and Tobago. The founding partner, Gordon Farrell, was joined in 1998 by two other partners, Mark Farrell and Derek de Gannes . They trained abroad in the USA and UK respectively and on their return to Trinidad they brought with them a wealth of international experience, each having worked abroad for over ten years. Mr. Gordon Farrell retired from the company after 32 years in 2008. In order to maintain its high level of professionalism and its contact with the international market, the firm has a policy of Continuing Professional Education. Its professional staff are required to complete at least 20 hours per year. Courses are attended mainly abroad and by correspondence. Some local seminars have also proved to be useful. G. A. Farrell & Associates Limited has grown from a small family practice to a large professional firm and maintains a high ratio of professional staff to administrative staff. It now has offices in Port of Spain (Ariapita Avenue), Chaguanas (Mulchan Seuchan Road), San Fernando (Harris Street), Arima (Shops of Arima) and Tobago (Tateco Building). Its Quantity Surveying consultant is Mr. Clifford Murray (MRICS). Our Founder turns 100 READ MORE

G.A. Farrell & Associates Ltd, a leading firm of Chartered Valuation Surveyors, specialized in the valuation of properties in Trinidad & Tobago. WELCOME TO G.A. Farrell & Associates Ltd Leading firm of Chartered Valuation Surveyors, specialized in the valuation of properties in Trinidad & Tobago. LEARN MORE Ariapita Avenue, Port of Spain We value the following property types Shopping Malls Hotels Commercial Residential Land Special Purpose VALUATION REQUEST MAKE A REQUEST MAKE A PAYMENT MAKE A PAYMENT METHODOLOGY LEARN MORE With your assistance, G. A. Farrell & Associates Limited provides assistance with funding to charitable Organizations including the following Princess Elizabeth Centre | Tritscher Home for Men | Guardian Neediest Cases Fund | Lady Hochoy Home Society of St. Vincent de Paul | John Hayes Kidney Foundation JOIN OUR MAILING LIST Sign up today to get the latest valuation news. Join Thanks for subscribing!