Frequently Asked Questions
Who can request a valuation?
Anyone who has an interest in real property can request a valuation.
What valuation standards do you follow?
We adhere to guidelines as set by Royal Institute of Chartered Surveyors (RICS) and the International Valuation Standards (IVS). We also follow International Property Measurement Standards (IPMS).
Who are your typical clients?
Our clients typically include private individuals, banks (local and international), lawyers, corporate organization, investors, and insurance companies.
What approaches do you apply to value properties?
Our valuation process involves the application of the three approaches to value as relevant. These approaches are Sale Comparison Approach, Replacement Cost Approach and 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.
What is the timing for a valuation?
Timing is dependent on the nature of the property, the nature of the valuation request, and the availability of data. Land and residential valuations are completed within a one week period.
What is the cost of a valuation?
Terra Caribbean offer services at reasonable prices. Valuations fees are dependent on the nature of the property and the request. We advise clients on fees before we start any work. Feel free to call us and enquire about valuations and advisory services.
What makes Terra Caribbean
At Terra Caribbean, we market ourselves as “We Know Grenada” and we stand firm with this theme. We track sales, listings and rental rates over the island; we are in direct contact with contractors, real estate agents, banks 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.
Are you listed on the valuation panel of local banks?
We are accredited to undertake valuations by the major banks which include RBTT Bank Grenada Limited, The Bank of Nova Scotia (Scotiabank), Republic Bank (Grenada) Limited and First Caribbean International Bank. We are also listed on the panel of local credit unions.