{"id":39902,"date":"2024-07-16T15:15:31","date_gmt":"2024-07-16T19:15:31","guid":{"rendered":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/?p=39902"},"modified":"2024-07-16T15:15:31","modified_gmt":"2024-07-16T19:15:31","slug":"respected-title-search-company-in-saratoga-springs-changes-hands-after-twenty-years","status":"publish","type":"post","link":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2024\/07\/respected-title-search-company-in-saratoga-springs-changes-hands-after-twenty-years\/","title":{"rendered":"Respected Title Search Company In Saratoga Springs Changes Hands After Twenty Years"},"content":{"rendered":"
\"\"
Stephen Heidorn (left) has sold Broadway Title Agency to Ralph Scunziano (center) and Douglas Zins. Seated is long-time employee Lisa Magin.
Saratoga Business Journal<\/figcaption><\/figure>\n

By Susan Elise Campbell<\/p>\n

Broadway Title Agency has new owners. The company that Stephen Heidorn founded 20 years ago to research property deeds and facilitate unencumbered real estate transactions was sold to equal partners Ralph Scunziano and Douglas Zins in a deal that closed on May 31.<\/p>\n

The three are working together closely as they transition vendors, turn over expenses, and complete all housekeeping, Scunziano said.<\/p>\n

The new partners are both attorneys. Scunziano said he is a real estate investor and Zins, who has a practice in Watervliet focusing on real estate, has represented him on many transactions. According to Scunziano, Zins knew Heidorn \u201cfrom the other side of the closing table.\u201d\u00a0<\/span><\/p>\n

\u201cThrough my conversations with Stephen, I said there was a great opportunity to take over when he retired,\u201d said Zins.\u00a0<\/span><\/p>\n

\u201cComing through the 2022-2023 market boom there is a lot of potential in real estate, although it is a little lax because of higher interest rates,\u201d Zins said.<\/p>\n

Interest rates have stayed the same but inventory has been\u00a0 <\/span>up. The new partners are \u201choping interest rates come down a little in the near future,\u201d but as Zins said, \u201cpeople still need to and want to buy and sell houses or refinance their homes.\u201d That demand fuels the need for title searches.<\/p>\n

<\/span><\/span><\/b><\/span><\/span>A title search involves looking back at least 40 years at the ownership interest of a property, including mortgage information, judgements or liens, \u201cand anything else that might cloud the title interest of the seller, such as bankruptcy proceedings or unpaid real estate taxes,\u201d said Zins.\u00a0<\/span><\/p>\n

\u201cThat report gives the buyer confidence that at closing, the property is free and clear of any encumbrances from prior owners,\u201d he said.<\/p>\n

Scunziano said the partners are very pleased that Lisa A. Magin, the agency\u2019s sole employee, will be staying on and lending her expertise.\u00a0<\/span><\/p>\n

\u201cLisa has worked alongside Stephen Heidorn for 20 years and has a wealth of knowledge about this business and the industry,\u201d he said.<\/p>\n

Scunziano and Zins have \u201ca network of attorney friends and business acquaintances\u201d whom they will \u201crely on to grow the business,\u201d they said.<\/p>\n

\u201cWe will keep that pipeline flowing,\u201d said Scunziano. \u201cRight now we are focusing on a smooth transition so we can keep the existing book of business and then build up from that.\u201d<\/p>\n

Scunziano said he and Zins \u201cwould love to grow and expand and hire more people, but right now we are at the mercy of some of those economic factors.\u201d<\/p>\n

Scunziano and Zins have no plans to relocate their new venture.<\/p>\n

\u201cThe office at 480 Broadway is a prime location and we love it here in Saratoga,\u201d said Zins. \u201cWe are close to everything that we would typically be using in relationship to our business.\u201d<\/p>\n

\u201cThe post office is right here, Adirondack Trust and even the courthouse, in case I also need to do some legal practice there,\u201d he said<\/p>\n

When Heidorn opened the agency 20 years ago he set up shop on the basement floor, he said.\u00a0<\/span><\/p>\n

\u201cThen we skipped over the main floor and moved up to the second floor,\u201d he said. \u201cThe first floor is too expensive, that\u2019s retail pricing.\u201d<\/p>\n

Heidorn said he was actively marketing the business \u201cfor two or three years when Douglas Zins came along.\u201d<\/p>\n

Negotiations took about a year to finalize, he said.<\/p>\n

Zins and Scunziano are taking over in quite a different environment than that which Heidorn found when he came into the area in 1981.<\/p>\n

\u201cYou could shoot a cannon down the middle of Broadway in the winter back then and not hit anybody,\u201d he said. \u201cAll the hotels and subdivisions that have been built have made Saratoga the fastest growing county in the state.\u201d<\/p>\n

Heidorn sat on the board of the Saratoga Chamber of Commerce for six years and has served as treasurer.\u00a0<\/span><\/p>\n

He said real estate is always a cyclical business but that COVID spurred growth for the industry as interest rates were lowered and people moved out of New York City to places like Saratoga.\u00a0<\/span><\/p>\n

\u201cIn my book, Saratoga County is the premier county from a real estate point of view,\u201d said Heidorn.<\/p>\n

\u201cWe look forward to continuing the legacy that Mr. Heidorn has laid down,\u201d said Scunziano.\u00a0<\/span><\/p>\n

Heidorn looks forward to the next chapter of life in Saratoga.<\/p>\n

\u201cThree days after closing on the business I purchased a house at a foreclosure sale, so I guess I\u2019m not fully retired,\u201d Heidorn said. \u201cIt needs some work and I\u2019m looking forward to getting my hands dirty a little bit.\u201d<\/p>\n

For more information on Broadway Title Agency find them on Facebook.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Susan Elise Campbell Broadway Title Agency has new owners. The company that Stephen Heidorn founded 20 years ago to research property deeds and facilitate unencumbered real estate transactions was sold to equal partners Ralph Scunziano and Douglas Zins in a deal that closed on May 31. The three are working together closely as they […]<\/p>\n","protected":false},"author":89,"featured_media":39903,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-39902","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"\r\nRespected Title Search Company In Saratoga Springs Changes Hands After Twenty Years - Saratoga Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2024\/07\/respected-title-search-company-in-saratoga-springs-changes-hands-after-twenty-years\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Respected Title Search Company In Saratoga Springs Changes Hands After Twenty Years - Saratoga Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"By Susan Elise Campbell Broadway Title Agency has new owners. 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