Real Reasons Why Real Estate is So Expensive in T&T

[cherrypopper]

I believe 5 to 10 acres at least. ..

Subject to correction ...

[nervewrecker]

Damn yo. That's plenty land

[88sins]

Having 5-10 acres doesn't get u an FUL. Takes a lot more than jus a deed. Gotta prove the land is yours, that its agri estate, why you need it, among other things.


&even after all dat still wait bout 10 years to get it in hand

[sMASH]

the 'lubrication' is the key factor in how smoothly and swiftly your transaction goes.... citizens, unless willing to shell out a lot of cash, are quite at a disadvantage in self protection in this country

[88sins]

Most ppl apply sor a license to keep a shotgun. Now you could use it for home defense, but after that is you at risk of
A-losing it by other bandits who now kno for a fact you have it at home after you blast the first one
B-losing it for a while during the ensuing investigation, during which bandidos will figure out you at least for a little while defenseless and then move in knowing u can't fight back
C-get fed up of the big long heavy obzokee shotgun and the limits of its usage. Yuh could only buy x amount of shells per year, only certain types of ammunition readily available locally, it conspicuous, loud, not easy to come up fast on a close intruder, etc.
For estate+home defense uses, a bullpup .22lr semi/full auto would work just as well if not better.

Anyway, back to the topic at hand

[LOUD AND CLEAR AUDIO]

there is a maraj woman who claim they have a construction company and builds house...s they get stick with some land they cant even get lights and water for years -- they went and build on these caroni lands and keep showing and rotation the same 2 -3 houses in different caroni lands with about 3 different cell phone nbrs changing and rotating the nbrs every few months ---when u ask for detailed documentation u get one set of talk about the project and ppl want to pay down and if u want to secure a house like that they can build one for u

[LOUD AND CLEAR AUDIO]

there is a guy who affiliated with a prominent real estate company drivers a sportage kia takes u to show u other ppl land cus he has a link in a travel service he know when the owners not in the country man nearly fool me too have copies of all the documents he don't have no power of attorney ''he is just ''the agent ''--once he secure the deposit -- the rest is history --one set of gallaray and months and months of play

[cherrypopper]

When you find the agent dead his "famalee" would cry," maukesh never do nobody nuttin."

[sMASH]

there is a maraj woman who claim they have a construction company and builds house...s they get stick with some land they cant even get lights and water for years -- they went and build on these caroni lands and keep showing and rotation the same 2 -3 houses in different caroni lands with about 3 different cell phone nbrs changing and rotating the nbrs every few months ---when u ask for detailed documentation u get one set of talk about the project and ppl want to pay down and if u want to secure a house like that they can build one for u

lol, like the house is a demonstration unit, not intended for sale..

[Ted_v2]

plenty antics here yes,
question, lets say i want to purchase a house and the person wants $USD how i go about getting something like this done?

[88sins]

so u want to buy a property from a scamp then.
House can only be valued by a local valuation company, & will be valued in TT$. If taking a mortgage, afaik no bank would even consider this as an option. Property is valued in TT, & will be paid for in TT.

Simply because the seller could hold onto the USD & sell it when the rate goes up & make more than the value of the property in the transaction. Very dishonest & sprangerish way to deal wth big ppl.

[Miktay]

plenty antics here yes,
question, lets say i want to purchase a house and the person wants $USD how i go about getting something like this done?

more than a few ppl ive heard of offering USD cash...

But the offering usually iza steep discount 2 the sellers asking price...even figuring in the depreciating TT$...

2 counter u could raise ur offer in TT$...but thiz may not be feasible given the overheated market.

Greed has overtaken fear.

[eliteauto]

plenty antics here yes,
question, lets say i want to purchase a house and the person wants $USD how i go about getting something like this done?

buy the US at the bank or on the secondary market or find another house to buy

[silent_riot]

Even if you take it upon yourself to do a valuation of the property, they will more than likely use the asking price from the seller..."market price" valuation.

[88sins]

[
buy the US at the bank or on the secondary market or find another house to buy

If was me, he would hadda take the TT & go & buy his own USD/GBP/CAD/EC afterwards or keep it & find another buyer
you hadda be a madman to feel yuh could value & sell a house in USD that built, being sold, & being financed in T&T. It have international financial standards banks have to follow that would make this at the very least a very suspicious transaction. Here, look a rough example.

Seller gets USD 100K @ 6.7516:1 for the property valued at TT$675160.00 on the afternoon of the 1/1/16. By 1 am on the morning of 2/1/16 the exchange rate is 6.7742:1. Thats a difference of USD 0.03c/USD paid to him. 0.03x100000 is 3000, so essentially yuh paid USD 3000.00 more for a house when the value of said house never budged. Now multiply that by the new rate yuh get TT$20, 322.60, & that is what extra you paid for a property that did not appreciate in value commensurately.

So instead of paying TT$675160.00 for a house thats valued same, yuh wind up paying roughlyTT$695482.60


Honestly, I'd tell only pay for it in TT$, at most I might make arrangements to help him to get the USD afterwards, but I eh fallin prey to dem kinda hustlers ambition chupidness

[pete]

If you don't have 100k USD where you getting that? Used car place in chaguanas?

[88sins]

It have ways & means son.

Like my granpappy used to say
"It always good to have low friends in high places"

[The_Honourable]

[
buy the US at the bank or on the secondary market or find another house to buy

If was me, he would hadda take the TT & go & buy his own USD/GBP/CAD/EC afterwards or keep it & find another buyer
you hadda be a madman to feel yuh could value & sell a house in USD that built, being sold, & being financed in T&T. It have international financial standards banks have to follow that would make this at the very least a very suspicious transaction. Here, look a rough example.

Seller gets USD 100K @ 6.7516:1 for the property valued at TT$675160.00 on the afternoon of the 1/1/16. By 1 am on the morning of 2/1/16 the exchange rate is 6.7742:1. Thats a difference of USD 0.03c/USD paid to him. 0.03x100000 is 3000, so essentially yuh paid USD 3000.00 more for a house when the value of said house never budged. Now multiply that by the new rate yuh get TT$20, 322.60, & that is what extra you paid for a property that did not appreciate in value commensurately.

So instead of paying TT$675160.00 for a house thats valued same, yuh wind up paying roughlyTT$695482.60


Honestly, I'd tell only pay for it in TT$, at most I might make arrangements to help him to get the USD afterwards, but I eh fallin prey to dem kinda hustlers ambition chupidness

Appreciate the breakdown, well done.

[BRZ]

If you don't have 100k USD where you getting that? Used car place in chaguanas?

careful yuh tek ah beating like d gyal! LOL

[widdyphuck]

Makes sense

This ched need a bump..soo much good info on it.

[screwbash]

land was affordable but then these big players like clico, hcl, cariibean housing and so fort fool all them old people and buy all the land cheap tuh make gated community and charge millions. Swamp land in el socorro south was sold 15 years ago to the syrians like superfarm for 300k for acres cause it used tuh flood and nobody wanted tuh live dey, dem syrian full it and use they govt position to build road and theman build 1 blue building and charging the govt 300k ah mth rent now.

[Ted_v2]

God doh make land. Buy what yuh could when u getting.

[Redman]

On an island expansion of the money supply will always keep real estate prices strong.

MS is expanding but the amount of land is not

[matr1x]

Be careful who you buying grom. Real fraud deed out there

[ruffneck_12]

If land prices were cheaper, would trinidad be a better place?

[widdyphuck]

Be careful who you buying from. Real fraud deed out there

X100

[matr1x]

Also, important to know who actually owns the land. Just because you paid money and got a copy of the deed, does not mean you are the legal owner.

[widdyphuck]

Also, important to know who actually owns the land. Just because you paid money and got a copy of the deed, does not mean you are the legal owner.

Also this would come up when a proper search is done...

[j.o.e]

Also if sounds too good to be true. It usually is

[matr1x]

Quick class, who has higher claim, equity owner..or legal owner?