Recent verifications of intrinsic room-temperature (RT) ferromagnetism in transition metal doped-ZnO have increased its attractiveness as promising material for nano-optoelectronic and spintronics-based devices. A control over dopant speciation and the determination of the size-dependence of the properties at the nanoscale, become then indispensable. We present here the conditions for the roomtemperature synthesis in ethanol and characterization of bare, Mn-and Co-doped ZnO nanocrystals. The results evidenced the viability on producing highly monodisperse nanocrystals (5-8nm) with no need for any further thermal treatment. However, the formation of the ZnO structure was delayed when dopant ions co-existed with Zn in starting solutions; well-crystallized doped nanoparticles were produced only after their aging in mother liquors. SQUID measurements on doped nanocrystals evidenced a weak, though noticeable RT-ferromagnetism, or paramagnetism, depending on synthesis conditions.