Answers - Real Estate

Purchasing your first home is a big step that comes with some serious decisions. When you rent, instead of own, you are just buying the home for your landlord. Buying a home today is

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

so easy there is no reason to wait, especially since home prices have come down. But, hurry! They are beginning to increase due to buyers rushing to get into the market at the lowest

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

Examples of combination products may in

rices. Mortgage rates are also good, so the time is now. Here are some tips to get you started.

Before You Begin, Ask Yourself . . . Will you live in the home for at least 3 years

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

If the answer is yes, then buy now. You can break even selling after 2 years the way that homes appreciate in this area, so moving anytime after 2 years is profitable for you. Consid

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

ering tax advantages, you will more than break even; and, you can write off real estate taxes and the mortgage interest. Rent payments are generally the same as your mortgage payment,

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

Combination pro

o it really doesn’t cost you.

No Down Payment! Did you know you can buy a home with no money down? Mortgage companies are eager to loan you money if you have good credit and your sal

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

ry justifies the loan payment. Don’t believe it if you are told you need a big down payment to buy a home . . . that is yesterday’s thinking.

Get Pre-Qualified This is an easy proces

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

s. Just call a mortgage company and discuss your situation. You can call your present bank or a mortgage Broker. Ask friends or family for a personal referral. Use someone with a go

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

d reputation. Interviewing lenders can be done over the phone, so interview a couple to find the right one for you. Besides asking the current rate, ask about closing costs. Once you

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

select your lender, meet with them personally and get a pre-qualification letter that spells out what you can invest, interest rate and closing cost. You will now use this letter to sh

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

p for a home.

Consult a Real Estate Professional ASAP The most important person in this transaction is the Realtor that you use. Be selective on how to choose your Realtor. Look on

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

Following aspects would a

the web to find some possibilities. Do not just use the first one you come into contact with. Talk to a few and meet in person with a couple of agents before you look at homes. Make

dd to the challenges in developing combination products:

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

ure your agent sold at least 50 homes in the last year. Anything less than that means you are working with a new agent or one that does not have the experience that will best serve you

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

This agent represents you, so the agent you choose needs to know the area, have a lot of experience negotiating, and be committed to finding the best home and neighborhood that will m

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

eet your needs.

Make a list of “Must Haves” & “Wants” It’s very important your Realtor know your criteria in order to find homes that meet your needs. You can go to www.realtor.com t

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

view homes that fit your specifications. This will give you an idea as to what is possible in your price range and in the location you want. Once again, select your Realtor right awa

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

Professional from academic institutions, pharmaceutical industries, health care indust

so if you become interested in new construction your agent can negotiate for you. You do not want to not be represented by a Realtor when you are purchasing your first home. This is

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

very risky because this is a complicated purchase and no representation puts you at a major disadvantage.

Make a Decision Once you find the best home that meets your needs, take actio

.

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

. Homebuyers often hesitate and this could mean you miss the best home that meets your needs. If you have chosen a good mortgage broker and a good Realtor, you should have the facts t

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

Companies that provide selfless information through particip

make the right decision.

The time is right to buy your first home, so do not wait. If you have the right team of professionals assisting you, it is an easy, wise and exciting process

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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Now that you’re familiar with the differences between marketing and advertising, and you have some understanding of the basic factors we apply when putting together an advertisement or an advertising plan (see that issue again or sign up so you don’t miss an issue), it's time to think about effectively leveraging your time, effort, and money. A website can help you do just that.

Small business owners often struggle with coming up with needed funds and establishing business credit. A small business credit card can help you have extra money while building business credit that will eventually be separated from your personal credit.

The scope and nature of Intellectual property has expanded. Software and database need protection. Laws vary from jurisdiction to jurisdiction. WTO and TRIPS enabled laws to harmonise the situation.

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Answers - Tips for First-Time Home Buyers

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