DOTTERMAN INC
About us
Primary market areas are: In OH - Hamilton, Butler, Clermont, and Warren Counties. In KY - Boone, Kenton, and Campbell Counties. In IN - Dearborn, Franklin, Ohio, Ripley, and Switzerland Counties. Specialize in appraising complex high value homes. Also perform appraisals for those individuals seeking a reduction in their property taxes. I have made 50 +/-appearances before tax appeal boards. Also perform appraisals for attorneys seeking an expert witness for court appearances.
Business highlights
47 years of experience
Services we offer
30+ years experience appraising all types of residential real estate. Licensed in Ohio, Kentucky, and Indiana serving the Greater Cincinnati area.
Reviews
3.02 Reviews
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Showing 1-2 of 2 reviews
Michelle D.
Jun 2023
Dotterman Inc were very responsive on the phone and in scheduling an appraisal. Their process was very thorough going down to the structural/ electrical/ water diversion/ and general market knowledge of the area. I felt as though I had received an electrical engineer and structural engineer in one package based on the level of information I received in chatting with Mr. Dotterman, and based on the report that was finalized. Thanks for your help.
Deborah S.
Nov 2010
Mr. Dotterman arrived at the scheduled time (from an office over 20 miles away on the other side of town). Mr. Dotterman, who has an SRA (Senior Residential Appraiser) designation, was pleasant enough, as he went through our home; however, he made a few comments that raised a few red flags (like putting our home in a different community and not understanding the market for our home). He mentioned that he wouldn?t compare our home to homes on the other side of the neighborhood, which are similar to our updated home, because the highway was in their backyards. Because of a large remodeling project and a refinance, our home has been appraised twice in the last 9 years; the estimates (in 2001 and 2003) by two different appraisal companies were almost identical. We were well aware of the ?housing slump? nationwide, but from all we?ve heard (and according to a recent Enquirer story) homes in our area were moving better than elsewhere. Our expectation was that our home would be slightly above its previous two appraisals?but were we unpleasantly surprised, and quite frankly, stunned, when we read his report. First of all, he got the total number of rooms in our home wrong (there are 11 not 10, Mr. Dotterman!). The comps chosen by Mr. Dotterman were all smaller homes: one was 36% smaller and another almost 40%; another had 2 less bedrooms, the rest one less; and one backed up to the highway! None were from our community or in our school district. He only looked at homes in a narrow price range, below the expected range of our home (according to MLS), suggesting that he had ?made up his mind? before doing any research. His appraisal was 15% less than the previous two, and well below the MLS estimated lower bound. Needless to say that, as a result, the loan fell through. Our mortgage lender contacted Mr. Dotterman over a week ago, but as we understand, he has not called back. Looking back, we wish we would have insisted that the appraiser be more familiar and lived or worked in the area. It?s true, we are extremely disappointed and upset?we?re not only out $275, but we?ve lost out on saving tens of thousands of dollars (since interest rates are now creeping back up), because Mr. Dotterman, apparently, did not do his homework. We would strongly recommend that when looking for an appraiser, most importantly, you find someone who is familiar with home values in your area (and not just someone with the apt designation).
Response from DOTTERMAN INC
"I should begin this response by informing the reader that federal law forbids any appraiser from revealing the value conclusion and the comparable sales in any appraisal report used to determine the market value for a mortgage loan. Law states it MUST be treated as a confidential financial document. My code of professional ethics specifically forbids revealing the value conclusion and the comparable sales used to determine a homes market value. Due to these restrictions I am at somewhat of a disadvantage writing this response. Therefore, I will address the non-appraisal report issues. This appraisal was ordered by a federally regulated bank for a potential mortgage loan. Therefore, the member was not my client; the lender was my client. I was not hired to make the member happy by appraising her home at what she thought it was worth. I was hired to determine the market value of her home for procurement of a mortgage loan. The member seems to imply that I am geographically incompetent to appraise her home because the physical location of my office was “20 miles away on the other side of town.” I have 32+ years of experience appraising homes all over the greater Cincinnati (OH, KY, and IN). This seems to imply I did not know her neighborhood. Nothing could be further from the truth. Mortgage lenders, relocation companies, homeowners, and attorneys have hired me to appraise hundreds of homes “on the other side of town.” They believe me to be geographically competent to appraise homes in these areas. The member referenced two prior appraisals of her home from 2001 and 2003. We are in a very different market today than we were 7 and 9 years ago. Values have changed drastically from that time. The appraised value of any home is only valid for the current market conditions, not the market conditions from 7 and 9 years ago. The member's home was a 50 year old five level split level home with limited market appeal due to the number of steps to get to all 5 levels. The owner wanted me to use recent comparable sales in her area that were half the age of her home and were traditional two story homes with superior overall market appeal. The sales I used in her appraisal were what the typical potential buyer for her home would look at if they were considering a purchase of the member's home. The sales the member wanted me to consider were not relevant indicators of value for her home because of the differences noted above. The owner states I did not do my homework. I performed all due diligence necessary to develop a reliable opinion of value for her home. The owner has chosen to assign an “F” rating to my profile because I did not appraise her home at what she thought it was worth. It is unfortunate the member has chosen this forum in an attempt to disparage my reputation simply because she could not obtain a refinance loan. As the law requires I did my duty as an appraiser and prepared an appraisal report with an accurate opinion of value on her home."
Licensing
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FAQ
DOTTERMAN INC is currently rated 3.0 overall out of 5.
No, DOTTERMAN INC does not offer free project estimates.
No, DOTTERMAN INC does not offer eco-friendly accreditations.
No, DOTTERMAN INC does not offer a senior discount.
No, DOTTERMAN INC does not offer emergency services.
No, DOTTERMAN INC does not offer warranties.