Getting any real estate deal to the closing table these days often means navigating a variety of challenges and potential pitfalls. Infinity Land Services is working to make sure that title isn’t one of them.
Infinity Land Services (ILS) has built a solid reputation in the title industry over the past two decades for its expertise and knowledge of the legal and technical aspects associated with the transfer of title and title insurance. Its title officers understand that the ultimate goal for a real estate transaction is to achieve a smooth transition of ownership, with added emphasis on fast turnaround time, attention to detail and accessibility for clients when questions or issues arise that need to be addressed.
The Brooklyn-based firm has an established track record for navigating complex and unique situations. New York in particular can be a notoriously difficult market to navigate. That boots-on-the-ground experience and knowledge of New York lien law is beneficial for both local and national clients. Dealing with complicated situations has been a great training ground, and the firm is leveraging that depth of experience as it continues to expand into new geographic markets. The firm has offices in New York and New Jersey and is now licensed in Ohio, Pennsylvania, Virginia, Connecticut, Georgia and Florida. “We’re growing nationally and we’re trying to recreate in other areas what we have successfully created in New York,” says ILS President, CEO and Founder Marc Herskowitz.
Whereas other title firms are run by managers, Herskowitz is proud of his background as a “title guy”. He landed in the title industry by chance. He took a summer job at a title firm that turned into a steady part-time job during college and law school. For most law school grads, the goal is to land a dream job at a big Manhattan firm. Herskowitz decided to stick with an industry where he had already built experience and relationships. In 2003, six months after graduating law school, he founded Infinity Land Services.
Hands-on management
Herskowitz is a hands-on owner who truly understands the title business and what his clients want and need, which also sets him apart from other firms that might have a manager overseeing operations.
“A lot of people who have entered the industry have made it more into a business, but I still like to look at it as a profession. When I’m talking to a client, I’m not just talking as a business owner, I’m talking as a title guy,” says Herskowitz.
One client in particular, Jeffrey Zwick, Esq. notes how his office has always looked forward to the professionalism and efficiency of working with ILS. “Their staff is responsive and knowledgeable about all facets of the title industry!”
In fact, Herskowitz answers his phone anytime after hours when a client has an issue that needs to be addressed. “I don’t have my fingers in every single closing that we have, but I’m available to talk to my clients to guide them and find solutions to what they’re trying to accomplish,” says Herskowitz. He also tells his staff that the answer to a question is rarely “no”, but rather how can we make this happen, and how can we protect our clients who are going into a big transaction?
“There are a lot of people who are deal killers, and we try to make deals happen, which at times means getting creative and thinking outside the box to find a way to protect them,” he says.
One of the biggest testaments to his success is that a majority of the clients that started with him have been repeat clients over the past two decades.
Smooth closing
ILS handles titles for a wide range of commercial and residential transactions. “On the title side, there are always issues that come up, and our job is to make the transaction seamless for our clients,” says Herskowitz. ILS title officers manage a variety of responsibilities for every transaction that often include:
- Thoroughly researching the chain of ownership
- Documenting and clearing any title defects
- Preparing all documents correctly
- Securing and distributing funds accurately
- Keeping clients informed of progress and any potential problems
- Recording executed documents promptly after closing.
Timing is a key issue in almost every real estate transaction, and ILS title officers work to expedite searches and clearance procedures to get clients to the closing table on schedule. In addition, the firm works to place a title policy with the best underwriter, frequently working with leading underwriters such as Fidelity National Title Insurance Company, Old Republic National Title Insurance Company and First American Title Insurance Company.
Abraham Poznanski, COO of Infinity Land Services notes in particular what helps differentiates their firm amongst its competitors in the market, “Marc demonstrates the ability to recruit and retain the highest caliber of professionals who feed into his own passion for the title industry and superlative service to our clients. This in turn allows Infinity Land Services to nurture long-standing relationships.”
At the end of the day, ILS ensures that its clients are protected.
“I’ve seen plenty of refinancings on construction loans that aren’t being done properly, which can potentially jeopardize the lien position,” says Herskowitz.
“Mortgage tax is another big issue that people don’t fully understand when it comes to construction loans, especially if they are refinancing mid-project on construction loans. Unlike many states, New York has a mortgage tax. Therefore, it’s not unusual to see a mortgage chain that runs 10 pages because mortgages are often assigned and consolidated rather than satisfied.
Sometimes, digging into title research results in telling clients things they don’t want to hear but we are here to protect their interests. On one deal, ILS recommended that a client not close on a purchase without resolving a particular issue. Closing the deal would have been a disservice because it would have left the new owner exposed to risk of a claim. Getting stuck on a title claim is not a fun process, but if it happens, owners want to make sure they have good title insurance protection. When you’re dealing with so much money on the table people have to trust you,” says Herskowitz. “If people didn’t trust me, I wouldn’t be here 20 years later.”