Answers - Real Estate

Seven steps to buying your home 1. Define your needs.
Congratulations on your decision to purchase a new home! Before you go house hunting, it's a good idea to define what kind of home and neighborhood would best suit your desires and needs and make a wish list. Share this lis

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

t with your real estate agent. The finer the details, the more effective your home search will be. To further define your needs, you may want to divide your lists into negotiable and non-negotiable items, so your agent can operate with some flexibility when scouting for homes on you

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

r behalf.

2. Get prequalified or preapproved.
Now that you know what you want in a home and neighborhood, you need to find out what you can afford. There are two ways to go about this: prequalification or preapproval for a home loan. Your real estate agent can refer you to a m

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

ortgage broker to begin the process. In most markets, preapproved buyers are preferred by sellers over those who are pre-qualified. Your preapproved status lets the seller know: * You have gone through an extensive financial background check. * A lender is willing to do business

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

with you. * The likelihood of unexpected obstacles regarding financing is minimal.

3. Let the house hunting begin!
Now you are ready to embark on your home search - an endeavor that can prove overwhelming if not approached with some forethought. The most efficient route is to

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

allow your real estate agent do the initial scouting for you. Using your wish list as a guide, he or she will alert you of new and existing listings that have strong potential. If these listings pique your interest, your agent will arrange home tours at your convenience. Many agents

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

send alerts via email - sometimes as often as daily, depending on the available inventory in your market. Let your agent know how you'd like to receive these alerts, whether by phone, email or fax.

You also can do some research on your own. Read local real estate publications, con

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

tact your local neighborhood associations, visit the local chamber of commerce, surf the Internet, or drive around your favorite neighborhoods. While these methods certainly can lead to your dream home, it's important to note that 82 percent of home sales are the result of agent con

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

nections.* That means it's more likely your agent will find your dream home through being in the real estate business than you driving around on the weekends. * National Association of REALTORS(r)

4. Make an offer.
When you're ready to make an offer on a home, your real estat

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

e agent will help you determine the offer price by reviewing recent sales of homes similar in size, quality and amenities. With your input, your agent will draft a written contract that outlines what needs to be done by both parties to execute the transaction. If the seller accepts

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

the offer, the document becomes a binding agreement, so it is imperative that you carefully review it with your agent and speak up if anything is not clear to you. It's important to note that if the seller changes any aspect of the offer, it is not a binding agreement until the buye

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

r agrees to the seller's changes.

5. Strike a deal.
Sometimes, you get lucky and the seller accepts your offer as is. However, in most instances, the seller will make a counteroffer. This is where your real estate agent's experience in negotiations will be invaluable. Keep in

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

mind almost everything is negotiable when you are buying a house. This can give you a great deal of leverage in the buying process - that is, if you have adequate information and you use it in an appropriate manner. Some items you may negotiate: * Price
* Financing
* Clos

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

ing costs
* Move-in date
* Repairs
* Appliances and fixtures
* Landscaping
* Painting

Remain in close contact with your real estate agent so you can quickly review any changes from the seller. Remember: Bargaining is not a winner-take-all deal. It is a

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

business process that involves compromise and mutual respect.

6. Prepare for the closing.
When an offer becomes a binding agreement, your real estate agent will help you tackle the checklist of action items that you, as the buyer, have agreed to perform prior to closing. Depen

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

ding on how the responsibilities are divvied up in the agreement, this is typically when you will: * Conduct a home inspection.
* Get an appraisal and finalize your financing.
* Secure title insurance.
* Shop for a home warranty.
Having these procedures done in

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

a timely and professional manner is a must, as any delays could threaten a successful closing. A first-rate real estate agent should be able to serve as your "one-stop shopping" referral source for service providers. Your agent also should serve as your advocate, helping to coordin

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

ate activities and making sure the vendors have access to the property to perform their jobs.

7. Close the deal.
Congratulations! The moment you've been anticipating has arrived. The closing is where home ownership is legally transferred from the seller to the buyer. It is a f

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

ormal meeting that most parties involved in the transaction will attend. Closing procedures usually are held at the title company's or lawyer's office. The closing officer will coordinate all the document-signing and the collection and disbursement of funds. A few days before your c

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

losing date, your lender will send a final closing statement that outlines your closing costs, if applicable. Your real estate agent will review this document with you to ensure its accuracy, as well as help you gather any necessary documentation that you'll need to bring to closing

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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Approach any person in the street and ask them to describe home loans for people in a bad credit or bankruptcy situation.

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