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Request a Valuation
Our Team
Our team includes five RICS Chartered Surveyors and registered valuers, who provide advisory services across all property sectors and are highly regarded by the market for our ability to identify and solve complex property matters and provide timely and accurate advice. The team is supported by dedicated resources who capture market data and conduct market trends analysis across all property sectors.
What We Do
A property Valuation is a written report, independently and impartially prepared by a qualified Valuation Surveyor, setting forth and justifying an opinion as to the market or fair value (as of a specific date) of a property that is the subject of a real estate-related financial transaction. It is important to note that property valuations are for real estate only and do NOT include furniture, fixtures, appliances, fittings, artwork etc.
At TERRA we provide fee-based valuation services for a range of property types including offices, retail, industrial, vacant land, residences, and hotels.
Market Value Reports
Market Value Reports provide an 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. These reports are prepared for various purposes, including but not limited to:
-mortgage financing,
-loan security,
-property purchase,
-property sale,
-portfolio reviews
-tax assessment.
-estate settlement
-marital dissolution
Fair Value Reports
Fair Value Reports are often (but not only) prepared for financial reporting purposes. Fair Value is defined as the price at which an asset could be sold, or a liability could be transferred between market participants on a specific date in an orderly transaction.
Highest and Best Use Analysis
The Highest and Best Use Analysis is an appraisal practice that aims to determine the most profitable and feasible scheme for a given property. This analysis considers various factors such as the physical possibility, legal permissibility, financial feasibility, and the resulting value of the property.
The highest and best use of a property is defined as the most probable use that justifies its existence, legally permissible, financially feasible, and results in the highest value of the property. This type of analysis considers the value that exists solely in the land in its current and alternative uses, the value of demolishing the existing structures on-site and redevelopment if the land was improved by development, and the value of renovating the existing structure to significantly improve the value of the site.
This analysis is useful for property owners and developers who want to determine the most profitable and feasible use of their property.
Market Rent Reviews
Market Rent Analysis is a type of valuation service that estimates the amount for which a real property interest should be leased between a willing lessor and lessee under appropriate lease terms in an arm’s length transaction, after proper marketing. This analysis can be conducted on behalf of either a landlord or a tenant.
FAQs
Anyone can request a valuation and our clients typically include private individuals, financial institutions (local and international), attorneys, corporate entities, investors, and insurance companies.
Property Name (if applicable):
Property Address:
Parish:
Property Type:
Occupied by: (Owner/ Tenant/ Vacant)
Purpose of the valuation:
Name of Financial Institution (if applicable)
Valuations fees are dependent on the nature of the property and the request and we will advise clients on fees prior to commencement of any work. Feel free email us at [email protected] to enquire about valuations and advisory services.
This depends on the type of property and how quickly we (1) receive any information we require, and (2) can access the property to inspect it. Also note the information we require will differ slightly if the property is vacant land, residential or commercial improved properties.
Our valuation process involves the application of the three main approaches to value as relevant. These approaches are the Sales Comparison (or Market) Approach, Depreciated Replacement Cost Approach, Residual Analysis, and the Income Approach. One or more approaches to value may be used depending on their applicability to the appraisal assignment, the nature of the property, the needs of the client and the availability of data.
As a regulated Firm we adhere to guidelines as set by Royal Institution of Chartered Surveyors (RICS) and the International Valuation Standards (IVS).
We follow International Property Measurement Standards (IPMS).
No. For insurance you will need an Insurance Reinstatement Report which is different to a Market Valuation report. Insurance valuations are for the replacement cost “As New” of the buildings alone and does not include the value of the land. An Insurance Reinstatement Report uses current costs for replacing any structures on the property (includes landscaping, pools, walls, fences etc. any costs associated with demolition and removal of materials from the site, as well as the costs of any professional fees and taxes (VAT) to be incurred during the replacement process.
Valuing a business considers factors such as goodwill, brand, processes, and customers of the business. The business is treated as a going concern because it is assumed it will continue to operate. However, property valuation is based on an analysis of the real estate only and an understating or opinion of the current real estate market trends affecting that particular property.
Real estate is about people, and at Terra Caribbean we pride ourselves on having the best teams delivering great service and providing the best outcomes for our clients. We track sales, listings, and rental rates over the island; we are in direct contact with contractors, real estate agents, lending institutions, and other real estate interest to get comprehensive knowledge of the market. We have a fully integrated proprietary database for capturing, confirming, organizing and sharing information to drive consistency, accuracy and efficiency across the firm. Additionally we offer a regional reach through our network of offices in the Caribbean.
We Know Real Estate.