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

[daxt0r]

Land in the bush now is $300k and up
Land in swamp / lagoon is $200k.

Caroni land hitting the $400k mark last I checked and that was awhile now.

Belly banded, money saving, looking for a deal. So if anyone have a lot at a decent price, they can shoot me a pm.

it real ridiculous, i myself forced to rent but boy when i see the price of land i don't know if i could ever afford. I mean a piece a land in a good area is like 500,000 minimum, that's without a house self, so let we say with a small house that is 800,000.

How d eff a man getting that kinda money without the banks having yuh balls inna drawer?
I work for around 15k so that would take like 15 years to pay back assuming i spent 5000 a month on it. What about the people who working for like 3000-5000 and have family? Or even worse all the people who being laid off in these hard times..

Boy if anyone have a deal or know someone with land on the affordable side plz shoot me a PM also.

[10-01]

Boy if anyone have a deal or know someone with land on the affordable side plz shoot me a PM also.

be very careful of deals also give u a lil story i pass tru , had a lot of land selling for $XXX k went to buy it .. man said it have about 6 people interested ( by now i know all the shots people throw when selling land ) telling me to pay $40 k down ... i was like wher the documents for the land ... he said his attorney have it ... so i requested it did a search on the land 2 names came up on the deed .... it took a week to do the search , no one else paid down on it , asked him why the property has 2 names when he said he alone was the owner , he said his brother in law in NY have a sign in it , when u pay the $20k down he will come and sign over the property to me in 3 days time .... so i told him when the bro in law comes i will pay the money man watch me and say i wasting his time ... doh bother to buy it , it sold ... i was wtf


you guys know the big plot of land after unipet in Freeport , that was another scam some people claiming to be the owners did an add in the xpress selling the plots .... low and behold the owner came and put signs on the property ... after about 2 mths heard a few people lost some money in that scam ...

[DVSTT]

HDC house ftw?

[10-01]

HDC house ftw?

but is if the house build good ? and how long will it last ...

[DVSTT]

http://www.nytimes.com/2016/01/06/reale ... eslideshow

[eurotuner]

Sell dope
Buy Real estate with it
retire early

[supercharged turbo]

Looking to buy ah piece of land myself.Budget kinda tight but when you see men calling 500k for ah plot of caroni land in de middle of de canefield with no lights,water,road access and bawling yeah that piece is mines I organising de paperwork,it does really make yuh wonder if to extend yuh parents house and go up with ah 3rd story.

[nos_specialist]

I say leh we all come together...bring out 100k each buy a few acres in gran couva buss it up....each man take ah 2 lots.and we bussin an offroad track in d rest.

Bring atvs caratshed and drinks... we livin how we shud.

[10-01]

I say leh we all come together...bring out 100k each buy a few acres in gran couva buss it up....each man take ah 2 lots.and we bussin an offroad track in d rest.

Bring atvs caratshed and drinks... we livin how we shud.

i dey ...

[stev]

experienced this first hand with a small real estate company selling caroni land.

the real estate company's cut is always ridiculous. real estate agent said they found a lot for $375k in a really nice area....so happen i had family living close to the land in question. they asked the owner how much he was selling the land for......he said $250k.

i am sure the land is worth a lot less than $250k as well cuz it wasn't a whole lot...not even town and country approved. lol

edit: the location of the land wasnt even good....would have to spend thousands to make a private road to access d dam thing....

[stev]

sorry for double post:

have to be careful as well when buying land. a lot of people bought land down Waterloo (Brickfield) and ended up loosing all their money because the seller had already sold the land to another buyer then disappeared. lol

not just dishonest sellers but real estate agents as well promoting this nonsense (no proof, just word of mouth).

[nervewrecker]

This caroni land thing is real racket.
Called a company that selling some, saw the ad in the express.
Man real professional, sounding real legit.
What got me is he dont have a proper working phone or office. Name was john smith or something and he insist i use his attorney etc.
Told him I not going through the bank, taking it cash. Well he hurrying me to buy now. Phone working flawless.
Told him imma have the bank do a lil background check.
Well he was never to be heard from again and when i find out about the plot nobody had gotten it yet (caroni vesp thingy).

Sent from my ONE E1005 using Tapatalk

[silent_riot]

I believe Caroni residential plots have a 199 year lease, and the agricultural plots have a 99 year lease. So, they're not really freehold, and at the end of the lease, the plot may not be renewable. It would be up to the owner at that time to determine if the lease would be renewed and if so, to the same person.

However, there was encouragement from the government to not sell Caroni lands cheaply (or what they paid for it). So you can say that the value has been enforced to current market prices.
See here: http://www.guardian.co.tt/news/2015-05- ... y%E2%80%99

Real estate is very cut throat, since realtors have been getting away with receiving their asking prices. The same happens with the new car market. Note, in the article also mentions individuals who pressure Caroni workers to sell, etc.

[Redman]

Excess liquidity
Low interest rates
Drug money
And little or no enforcement.

And everybody cutting deals.

Don't blame the agents when the buyer and sellers are running g racket....

Who does an inflated valuation.?

Who takes cash?

[88sins]

Don't blame the agents when the buyer and sellers are running g racket....

So this gives the agents the right to run racket too ent. Sellers wanting more for what they selling is to be expected. What ain't normal is a crooked agent tacking on 50-75% to the selling price to keep for themselves. They have literally zero investment in said property & intend to make a killing on the sale.

Who does an inflated valuation.?

from my experience quite a few of them. will just cost yuh a lil extra for it, the amount of the extra cost will depend on if yuh want the valuation to go up or down. I not callin no names, but it have plenty of them doing it.

Who takes cash?

yuh srs

[Redman]

Meaning everybody is running racket....the agents can't do it ALONE.

So the seller agrees to inflate the price and kick back the agent.

Th evaluator agrees to inflate the valuation and put his sig.

And the bank takes the cash....with a nod.

[10-01]

sorry for double post:

have to be careful as well when buying land. a lot of people bought land down Waterloo (Brickfield) and ended up loosing all their money because the seller had already sold the land to another buyer then disappeared. lol

not just dishonest sellers but real estate agents as well promoting this nonsense (no proof, just word of mouth).

serious wher in brickfield know alot of folks in there ....

[pete]

Happened in El Carmen too.

[10-01]

Happened in El Carmen too.

saw a lot in the environs of el carmen for $450k when i went to check it .. u have to build a road to the land and a drain passes at the back , land is about 1 ft lower than the road also ... pre approval

u have to run poles to get electricity and i didn't even bother to ask about water

im guessing the price is hi due to apartments buildings close by ...

[MG Man]

young educated ppl are the reason for messed up real estate values escalating
Shiddy flat house next door to me was listed a few years ago for 650k...didn;t sell...he raised it to 800k...didn't sell....raised to 1.3, SOLD
He didn't use an agent, only classified ads....the tuntun who bought it spent more money to cover the car port, etc, probably another 250k.....all for a house that probably cost 300k when it was constructed

[daxt0r]

I say leh we all come together...bring out 100k each buy a few acres in gran couva buss it up....each man take ah 2 lots.and we bussin an offroad track in d rest.

Bring atvs caratshed and drinks... we livin how we shud.

Sound like ah idea if men really serious, we cud even make it revenue generating as well allow people to use we track for atv and offroad sports

[Redman]

Happened in El Carmen too.

Happened 30 years ago to my parents.
A house in Otahaite.
50000 hit ...big time jeweler chain and a corporate lawyer recently resigned from a public
Co...in south.

It takes a whole chain of teif.

[88sins]

So the seller agrees to inflate the price and kick back the agent.

actually most of the time the seller has no clue the price gets inflated by the agent, especially if they don't live here.
I know an elderly couple who don't live here that an agent tried this scam on. House was to be sold for $575K as per the owners instruction, but instead the agent was trying to sell the place for $1.8M. Short story shorter, the owner found out what the agent was trying & came back here with the sole purpose to tell him to haul he mc.

[BRZ]

These friggin real estate agents and companies, and obviously the evaluators are in on it too, making a killing , raping people's pockets and helping the banks too.

[pete]

Everyone benefits from the higher prices. (cept the buyer) Banks make more interest, evaluators charge based on the valuation price and real estate agents make commission on the selling price.

[16 cycles]

Had a tuner who was trying to sell me house and land at too good to be true prices...claiming all legit...go through lawyers and thing...didn't bite

Guy end up papers trying to scam BG outta money during his day job...

[iM@st@1]

Had a tuner who was trying to sell me house and land at too good to be true prices...claiming all legit...go through lawyers and thing...didn't bite

Guy end up papers trying to scam BG outta money during his day job...

One transaction I'll never do on tuner... To muxh smart man out here

[teems1]

Meaning everybody is running racket....the agents can't do it ALONE.

So the seller agrees to inflate the price and kick back the agent.

Th evaluator agrees to inflate the valuation and put his sig.

And the bank takes the cash....with a nod.

More like the seller wants 1.3m but real estate agent charging 5% commission. That's 65k gone.

So seller increases price to 1.35m/1.4m to offset the real estate agent's fee, and they get their original intended amount.

[desifemlove]

build land in derelict urban areas. issue is land management. Like in Arima, puna, sando, there always overgrown plots going to no use. And town too.

[j.o.e]

build land in derelict urban areas. issue is land management. Like in Arima, puna, sando, there always overgrown plots going to no use. And town too.

those overgrown lots are super expensive tho....those areas are deemed to have commercial potential