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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. 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. Online Valuation Form

G. A. Farrell & Associates Limited is a leading firm of Chartered Valuation Surveyors. G.A. FARRELL & Associates Ltd Welcome to G.A. Farrell & Associates, our website is currently under maintenance to improve your browsing experience. Please stay updated for when we are once again live. We apologize for any inconvenience caused and we can still be reached at our contacts below. contactus@gafarrell.com | (868) 624-8628 No. 23 Ariapita Avenue, Woodbrook, Port of Spain, Trinidad and Tobago © 2022 G.A. Farrell & Associates Ltd | All Rights Reserved | Designed & Developed by AppNerd Inc

G.A. Farrell & Associates Ltd, a leading firm of Chartered Valuation Surveyors, specialized in the valuation of properties in Trinidad & Tobago. Webinars 2024 Residential Real Estate Webinar 2022 Commercial Real Estate Webinar - Clint Langton's Presentation 2022 Commercial Real Estate Webinar 2022 Residential Real Estate Webinar 2021 Commercial Real Estate Webinar

G.A. Farrell & Associates Ltd, a leading firm of Chartered Valuation Surveyors, specialized in the valuation of properties in Trinidad & Tobago. Valuation Request MAKING A VALUATION REQUEST A 4-STEP PROCESS 1 2 3 4 Thank you for considering our firm to prepare a valuation report on your property. The following will acquaint you with the steps that will be necessary when requesting a valuation. Submit A Valution Request Submit a Valuation Request Your Valuation Request may be submitted using one of the following methods: Via our website: Please complete our Online Valuation Request Form , submit the required supporting documents, and pay the deposit via the ‘Services’ tab above. Our Administrative Staff will contact you if any additional information is needed. Visiting our Branch : Our Administrative Staff will collect all necessary information, documents, and payments at the branch most convenient to you. You may also complete the Fillable Valuation Request Form in advance and bring it with you when visiting our branch. Note: Gathering the required information may take a few minutes. We appreciate your patience, as this ensures all details are accurately recorded. Documents to be provided: (Please note that additional documents may be required based on the purpose of valuation) 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 (mandatory for Vacant Parcels of Land) If available, any Town & Country Planning Approvals A copy of the Agreement of Sale, if available For a Proposed Building / Extension or Proposed Works: Copy of approved Building Plans, where applicable Quantity Surveyor’s Report (Please confirm if one is required by the Lending Institution) and / or Builder’s Estimate Deposit & Fee Structure PROPERTY TYPE FEE STRUCTURE DEPOSIT AMOUNT MINIMUM FEE Residential $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 $2,475.00 $2,200 plus VAT Agricultural & Residential* (Specific Remote Areas) $3,000 for the first $500,000 of the opinion of market value and ¼ of 1% of the excess over $500,000 plus VAT $3,375.00 $3,000 plus VAT Agricultural Land (Subject to review) $2,500 for the first $500,000 of the opinion of market value and ¼ of 1% of the excess over $500,000 plus VAT $2,812.50 $2,500 plus VAT Mixed-Use $4,000 for the first $800,000 of the opinion of market value and ¼ of 1% of the excess over $800,000 plus VAT $4,500.00 $4,000 plus VAT Commercial (Land only) $4,000 for the first $500,000 of the opinion of market value and ¼ of 1% of the excess over $500,000 plus VAT $4,500.00 $4,000 plus VAT Commercial (Building & Land) $4,000 for the first $500,000 of the opinion of market value and ¼ of 1% of the excess over $500,000 plus VAT $5,625.00 $5,000 plus VAT Note: The deposit amount will be deducted from the total cost and is applicable for properties below a value of $5M. Fees for opinion of market values estimated to be $5M and over are to be determined by our Director. Payments can be made via cash, credit card, debit card, cheque, online banking or direct deposit. *Remote areas include the immediate villages/environs of the stated areas stated below: Region Locations Tobago Charlotteville, Speyside, Delaford, Kings Bay, Bloody Bay, L'anse Fourmi, Hermitage, Campbleton Northwestern & Offshore Areas Blanchisseuse, Brasso Seco, Down D Islands (Gasparee, Monos) Southern & Southwestern Trinidad Icacos, Cedros, Moruga (Basse Terre, Bois Jean Jean, Gran Chemin, La Lune, Marac) Eastern Trinidad Balandra, Rampanalgas, Cumana Northeastern Trinidad Matelot, Toco, Grande Riviere, Sans Souci, L'Anse Noir Site Inspection 2. Site Inspection Once we have received your request, deposit, and all required documents, our Valuation Officer will contact you or your appointed access person within approximately five (5) working days to schedule an inspection of the property. Please note that all rooms must be inspected. If any room or apartment interior is not accessible, this will be clearly stated in the report. Additionally, we kindly ask that all dogs, regardless of size, be secured before our Valuation Officer arrives. Upon arrival, our Valuation Officer will first measure the exterior of the property before proceeding to the interior. External and internal photographs will also be taken as part of the valuation process. 3. Report Preparation Report Preparation Once all required information has been provided and barring any unforeseen circumstances, your Valuation Report should be ready approximately five (5) working days after the inspection. The timeframe may vary depending on the type and location of the property, as a thorough analysis is necessary to determine an accurate opinion of value. In the valuation process, three (3) primary methodologies (or approaches) are used to determine value: the Market Approach (also known as the Direct Market Comparison Approach), the Income Approach, and the Cost Approach. All approaches will be considered in valuing your property, with one or more applied as appropriate. Collection 4. Collection Once your Valuation Report is completed, we will notify you of any outstanding balance. Upon full settlement, a digital copy will be emailed to you. If you require a physical copy, please let us know, and we will make the necessary arrangements after payment is received in full. Note: Values will not be disclosed nor reports delivered until settlement of our fees.

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. Key Personnel FOUNDING MEMBERS Gordon Farrell VIEW PROFILE Mark Farrell VIEW PROFILE EXECUTIVE DIRECTORS Derek de Gannes VIEW PROFILE Ryan Chin VIEW PROFILE MANAGEMENT TEAM David Bally VIEW PROFILE Leslie Sylvester VIEW PROFILE VALUATION TEAM Gerald Lue Affat VIEW PROFILE Damion Phagoo VIEW PROFILE Satyam Mahabir VIEW PROFILE Trevor Narine VIEW PROFILE David Figaro VIEW PROFILE Nicole Clarke VIEW PROFILE Stephan Ali VIEW PROFILE Kristy Ramdhanie VIEW PROFILE Brandon Callender VIEW PROFILE CONSULTANTS Clifford Murray VIEW PROFILE Sunil Lalloo VIEW PROFILE

G.A. Farrell & Associates Ltd, a leading firm of Chartered Valuation Surveyors, specialized in the valuation of properties in Trinidad & Tobago. Buying A Home Buying A Home is one of the biggest investments/purchases most of us will ever make in our life. It normally involves borrowing a large sum of money which is to be paid back over 20-30 years – a significant part of our lifetime. Despite that, many buyers go into this exercise without knowing what to expect or what to look for. One of the most important aspects in buying a home is the cost/value. While no one will mind if they pay less than the home is worth, it is a different story to find that you have paid too much. Also, mortgage-lending institutions normally lend up to 90% of the value or cost of the home, whichever is the lower. For example, assume you are buying a home for $600,000 and hope to borrow $540,000. (You have made a $60,000 deposit from your own funds). If the valuer then determines the home that you are buying is worth only $540,000, the mortgage lending institution will only lend you $495,000 and you will have to find an extra $55,000 on your own or possibly lose the deposit you made on the house. There are two simple ways to avoid this happening to you. The easiest way is when you have finally decided what house you are going to buy, find out from your mortgage lending institution who are the valuers on their panel, then select one of them to value the house before you make a deposit. Another way is when making a deposit, specify that if the independent valuation report done by the Bank is less than the agreed purchase price, you have the option of canceling the contract and getting a full refund of your deposit. If you adopt this option, ensure that the deposit will be held in escrow with an attorney or other such professional to avoid problems if a refund becomes necessary. Another important factor to consider in purchasing a home is how much extra money you will need for closing costs. There are several costs involved in addition to the actual price of the house. Some of these include: Attorneys’ fees for the Deed of Conveyance which transfers the house to your name. It is based on the cost of the house and generally, it is 1.5% on the first $100,000; 0.75% on the next $400,000 and 0.5% on the balance. . (Shortcut if cost > $500,000 – Divide cost by 200 and add $2,000.)Don’t forget – add VAT @ 12.5% The Stamp Duty on the Deed of Conveyance. The first $850,000 of the purchase price is exempt. After that, it is 3% on the next $400,000; 5% on the succeeding $500,000 and 7.5% on the balance. The stamp duty is payable to the government and the rates stated here are for residential homes. (Shortcut if price > $1.750,000 – Calculate 7.5% of cost and subtract $94,250.) Attorneys’ fees for preparing the Deed of Mortgage. This is based on the amount of money you borrow and the rate is the same as in (1) above. This can be reduced by 50% if the same solicitor prepares both deeds and property not under RPA. Stamp Duty on the Deed of Mortgage. Again, this is based on the amount of money you borrow and is payable to the government. The amount varies depending on the type of property (residential, land, etc.), purchase or refinance, and if the amount borrowed is larger than the purchase price. In the case of a purchase of a residence, it is often $2.00 per $1,000 (0.2%) assuming mortgage is for more than $850,000. (If less, then there is no stamp duty). In other cases, it is $4.00 per $1,000 (0.4%). Valuation fees which are usually between 1/3 to 1/5 of 1% of the value of the property, plus VAT @ 12.5%. Mortgage Lending Institution Fee (Varies between 1/3 – 2% of the amount borrowed). Mortgage Indemnity Fee. The calculation of this depends on several circumstances. It can be either 1.5% of the loan amount or 18.5% (of which 6% is a government charge) of the amount on which the mortgage indemnity is taken. Let the loan officer advise you on this. Do not forget the house itself. There are many questions you have to ask yourself. What is the traffic like at rush hours (a.m. and p.m.)? Remember you will be in it for the next 20-25 years. Do all the plumbing fixtures work? If not, why not? Is the electrical wiring adequate for all you equipment? (e.g. fridge, stove, a/c, kettle, washer, dryer, etc.) Do you see any leak stains on the ceilings? If yes, it could mean that the roof needs repairs/replacing. Is there any evidence of termites? You may want to call an expert to determine this. As you can see, there is a lot to be aware of in buying a home. Do not “Buy in haste and Regret in leisure”. Given below are 2 examples of the approximate closing costs involved in buying a home which we hope will be helpful. The above costs/fees are estimates only and are likely to vary from case to case. The above information is believed to be correct as of the date of writing. Before you make any decisions however, you are advised to consult with a suitable professional such as an accountant, an attorney, a financial advisor, etc.

G.A. Farrell & Associates Ltd, a leading firm of Chartered Valuation Surveyors, specialized in the valuation of properties in Trinidad & Tobago. Anti-Bribery & Corruption Policy G.A. Farrell & Associates Limited (”GAF&A”) is committed to maintaining industry standards, best practice and ethics. In this regard, this policy exists so that GAF&A and those who work for the company observe and uphold a zero-tolerance position on bribery and corruption. POLICY STATEMENT GAF&A is committed to conducting business in an ethical and honest manner and is committed to implementing and enforcing systems that ensure bribery is prevented. GAF&A’s zero- tolerance for bribery and corrupt activities means it is committed to acting professionally, fairly, and with integrity in all business dealings and relationships, wherever in the country we operate. GAF&A will constantly uphold all laws relating to anti-bribery and corruption, in particular, Prevention of Corruption Act 11:11 as amended. GAF&A recognises that bribery and corruption are punishable on conviction on indictment to a fine of twenty thousand dollars and to imprisonment for two years or on summary conviction to a fine of two thousand dollars and to imprisonment for four months. DEFINITION OF BRIBERY Bribery refers to the act of offering, giving, promising, asking, agreeing, receiving, accepting, or soliciting something of value or of an advantage so to induce or influence an action or decision. A bribe refers to any inducement, reward, or object/item or value offered to another individual in order to gain commercial, contractual, regulatory, or personal advantage. Bribery is not limited to the act of offering a bribe. If an individual is on the receiving end of a bribe and they accept it, they are also breaking the law. Bribery is illegal. Employees must not engage in any form of bribery, whether it be directly, passively (as described above), or through a third party (such as an agent or distributor). They must not bribe a foreign public official anywhere in the world. They must not accept bribes in any degree and if they are uncertain about whether something is a bribe or a gift or act of hospitality, they must seek further advice from the company’s compliance manager. WHAT IS AND WHAT IS NOT ACCEPTABLE This section of the policy is sub-divided into four (4) areas: Gifts and hospitality GAF&A accepts normal and appropriate gestures of hospitality and goodwill (whether given to/received from third parties) so long as the giving or receiving of gifts meets the following requirements: It is not made with the intention of influencing the party to whom it is being given, to obtain or reward the retention of a business or a business advantage, or as an explicit or implicit exchange for favours or benefits. It is not made with the suggestion that a return favour is expected. It is in compliance with local law. It is given in the name of the company, not in an individual’s name. It does not include cash or a cash equivalent (e.g. a voucher or gift certificate). It is appropriate for the circumstances \e.g. giving small gifts around Christmas or as a small thank you to a company for helping with a large project upon completion). It is of an appropriate type and value and given at an appropriate time, taking into account the reason for the gift. It is given/received openly, not secretly. It is not selectively given to a key, influential person, clearly with the intention of directly influencing them. It is not above a certain excessive value, as pre-determined by the company‘s compliance manager. It is not offered to, or accepted from, a government official or representative or politician or political party, without the prior approval of the company’s compliance manager. Where it is inappropriate to decline the offer of a gift (i.e. when meeting with an individual of a certain religion/culture who may take offence), the gift may be accepted so long as it is declared to the compliance manager, who will assess the circumstances. GAF&A recognises that the practice of giving and receiving business gifts varies between countries, regions, cultures, and religions, so definitions of what is acceptable and not acceptable will inevitably differ for each. As good practice, gifts given and received should always be disclosed to the compliance manager. Gifts from suppliers should always be disclosed. The intention behind a gift being given/received should always be considered. If there is any uncertainty, the advice of the compliance manager should be sought. Facilitation payments and kickbacks GAF&A does not accept and will not make any form of facilitation payments of any nature. We recognise that facilitation payments are a form of bribery that involves expediting or facilitating the performance of a public official for a routine governmental action. We recognise that they tend to be made by low level officials with the intention of securing or speeding up the performance of a certain duty or action. GAF&A does not allow kickbacks to be made or accepted. We recognise that kickbacks are typically made in exchange for a business favour or advantage. GAF&A recognises that, despite our strict policy on facilitation payments and kickbacks, employees may face a situation where avoiding a facilitation payment or kickback may put their/their family’s personal security at risk. Under these circumstances, the following steps must be taken: Keep any amount to the minimum. Ask for a receipt, detailing the amount and reason for the payment. Create a record concerning the payment. Report this incident to your line manager. Political contributions GAF&A will not make donations, whether in cash, kind, or by any other means, to support any political parties or candidates. We recognise this may be perceived as an attempt to gain an improper business advantage. Charitable contributions GAF&A accepts the act of donating to charities — whether through services, knowledge, time, or direct financial contributions (cash or otherwise) — and agrees to disclose all charitable contributions it makes. Employees must be careful to ensure that charitable contributions are not used to facilitate and conceal acts of bribery. We will ensure that all charitable donations made are legal and ethical under local laws and practices, and that donations are not offered/made without the approval of the compliance manager.

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. Valuation Videos Valuation Return Part 1 - Manual Submission Valuation Return Part 2 - Online Submission

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).