About.

AACI Real Estate Appraiser

Bryce Witherspoon, BA, AACI

I am dedicated to professional excellence and knowledge in all areas of commercial real estate appraisal and consulting. My wealth of experience and hands-on approach provides my clients with independent and well-supported opinions tailored to their specific needs and requirements. 

PH: 250-490-5266 E: bryce@rdoscommercial.com

Qualifications

AACI Real Estate Appraiser

FAQs

What is the difference between a commercial real estate appraisal and a market evaluation from a realtor?

A commercial real estate appraisal conducted by an AACI-designated appraiser like myself provides a comprehensive, independent analysis that meets strict professional standards and regulatory requirements. Unlike a market evaluation from a realtor, my appraisals include detailed income analysis, capitalization rate studies, extensive comparable sales research, and consideration of all three approaches to value (cost, income, and sales comparison). These reports are accepted by banks, courts, government agencies, and insurance companies for official purposes including financing, litigation, taxation, and insurance coverage. Realtor evaluations, while useful for listing purposes, are typically more limited in scope and may not meet the rigorous standards required for lending or legal proceedings.

Are you approved by major lenders and financial institutions?

Yes, I'm approved by numerous financial institutions throughout the region as well as local credit unions. My AACI designation and decade of experience ensure my appraisals meet all lender requirements and regulatory standards. I maintain these approvals through ongoing education and adherence to strict professional standards..

How long does a commercial appraisal take to complete?

The timeline for a commercial appraisal varies depending on the property type, complexity, and purpose of the assignment. Most standard commercial appraisals are completed within 7-14 business days from the date of property inspection. Rush assignments can often be accommodated. I always provide an estimated timeline upfront and keep clients informed of progress throughout the process.

Do you provide appraisals for insurance replacement cost purposes?

Yes, I specialize in insurance replacement cost appraisals in addition to market value appraisals. A replacement cost appraisal determines what it would cost to construct a new building of equal utility using modern materials, design, and construction methods. This assessment helps property owners ensure adequate insurance coverage by analyzing current labor and material costs, building codes, and market conditions. This is different from a market value appraisal and specifically addresses the amount of insurance needed to replace structures to current standards.

What information do you need from me to start an appraisal?

To begin your appraisal, I'll need the property address, legal description, and intended use of the appraisal (financing, purchase/sale, insurance, legal, etc.). For income-producing properties, please provide current rent rolls, operating expense statements, and lease agreements. I'll also need any existing surveys or building plans if available, and details about any recent improvements or renovations. The more information you can provide upfront, the more efficient the appraisal process will be.

What geographic area do you serve?

I serve the entire Regional District Okanagan-Similkameen, including Penticton, Summerland, Osoyoos, Oliver, Okanagan Falls, Princeton, Keremeos, and Naramata. My deep knowledge of these local markets, combined with over a decade of experience appraising commercial properties, allows me to provide accurate valuations that reflect current market conditions and local factors that influence property values. This local expertise is crucial for delivering reliable appraisals that lenders, investors, and other clients can depend on.