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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 Residential Valuations Commercial Valuations Land Valuations Special Purpose Valuations 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!

Valuation Request Submit A Valution 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 Valuation Request Completion of our Fillable Valuation Request Form or our Online Valuation Request Form . Documents to be provided: (Please note that additional documents may be required based on the purpose of valuation) A copy of a valid photo ID A copy of Deed / Title document or any Lease(s) A copy of Survey Plan / Cadastral Sheet If available, any Town & Country Planning Approvals (as per our Conditions of Engagement, in the preparation of the report, it will be assumed that statutory approvals have been or would be granted for the existing or highest and best use of the site) If purchasing – copy of the Purchase Agreement / Sale Agreement For Proposed Building (Projected Valuation): Copy of approved Building Plans Quantity Surveyor’s Report (Please confirm if one is required by the Lending Institution) or Builder’s Estimate Deposit Property Type DEPOSIT AMOUNT (Please note: This amount will be deducted from the total cost and is applicable for properties below $5M.) Residential (Building and/or Land)​ $2,250.00 Agricultural Land (Subject to review before acceptance) $2,812.50 Mixed (Residential & Commercial) $3,375.00 ​ Commercial Please contact our offices for more information. Please be advised that our Valuation Fees* for standard valuation reports are quoted below in Trinidad & Tobago Dollars (TTD) and the VAT Rate is 12.5%. Property Value Fee Structure $0 - 500K $2,000.00 Plus VAT $500K - $5M $2,000 + ¼ of 1% on excess over $500,000 plus VAT Over $5M Kindly contact our office for a quotation. (Minimum fee is $2,000 plus VAT for Residential properties; $2,500 plus VAT for Agricultural properties; $3,000 plus VAT for Mixed (Residential / Commercial) properties; $5,000 plus VAT for Commercial properties) *Payments can be made via cash, credit card, debit card, cheque, online banking or direct deposit. Site Inspection Your Valuation Request may be submitted using one of the following methods: Via our website: Complete our Online Valuation Request Form, submit supporting documents and pay the deposit using the ‘Our Services’ tab above. Our Administrative Staff will also call for any further information that is required. ​ Visiting our Branch : Our Administrative Staff will take all the necessary information, documents and payment at any of our branches most convenient to you. You may enter the relevant information on our Valuation Request Form and walk with it when visiting our branch. Note: Obtaining the information may take a few minutes, and we kindly ask for your patience as it ensures all information is received. 2. Site Inspection When we have received your request, deposit and all requested documents, our Valuation Officer will contact you or your appointed access person within approximately five (5) working days to arrange an inspection of the property. Please note that the inside of all rooms have to be inspected. If the inside of all rooms or apartment were not seen, this will be clearly stated in the report. Kindly secure all dogs, regardless of size, when our Valuation Officer visits the property. ​ Upon arrival, our Valuation Officer would advise that the outside of the property will be measured first and then the inside. In addition, external and internal photos would be taken. Report Preparation Collection 3. Report Preparation Once no further information is required and barring unforeseen circumstances your Valuation Report should be ready approximately five (5) working days after the inspection is carried out depending on the type of property and the location. This time is necessary for us to carefully analyze all aspects of your property and arrive at an opinion of value. In the valuation process, there are three (3) distinct methodologies (or approaches) used to arrive at an indication of value. They are the Market Approach (a.k.a. Direct Market Comparison Approach), The Income Approach and The Cost Approach. In valuing your property, all approaches will be considered and one or more utilized. 4. Collection When your Valuation Report is completed, we will notify you to arrange collection and payment of the balance of the fee. Should you require a soft copy of the Valuation Report, kindly advise and arrangements can be made upon full payment of fees. ​ Note: Values will not be disclosed nor reports delivered until settlement of our fees.

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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)

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.

Our Services In an effort to better serve our clients, the firm has contracted the services of Mr. Clifford Murray (MRICS). Now, when clients are constructing a building, the firm is able to provide both the Quantity Surveyor’s Report as well as the Valuation Report that mortgage lending institutions customarily request. The firm’s valuation, quantity surveying and property consultancy services can be utilized for many important reasons including: Purchase: Buying A Home Mortgage/Refinance: Refinance For Profit Insurance: How Much House Insurance Do I Need? Construction Sale Stamp Duty Balance Sheet Statutory requirements Site identification and negotiation for purchaser acquisition Please contact us to find out how we may be of assistance to you. Contact Us

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.

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