Answers - Real Estate

In a buyer’s market or a seller’s market, first time homebuyers as well as seasoned homebuyers should always be smart when shopping for a new home. In a buyer’s market where there is so much inventor

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

y to choose from, potential buyers can easily lose their focus. In a seller’s market, there isn’t enough inventory and homes go under contract so quickly, sometimes there’s just not enough time to re

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

Examples of combination products may in

ally think clearly and make wise decisions. Regardless, smart buyers need to be cautious about making an expensive mistake when buying real estate. Below are my five top tips that every homebuyer can

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

make use of.

1. Be sure to get pre-approved for a home mortgage and most importantly, have it in writing. Most buyers need some help in the form of a mortgage for purchasing the home. The smartest

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

homebuyers get this out of the way first before even starting to look at homes. Finding out what you can afford and feeling comfortable with your estimated monthly payment could be two different thin

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

Combination pro

gs. Some people are not willing to fork out on a monthly basis what the bank says they can afford. It’s best to know that dollar number and accept it before entering into a contract and going into sh

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

ck later. In addition, finding out earlier than later that there is a credit issue that needs to be cleared up will make all the difference in the world once you finally find your dream home. Potenti

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

al sellers will not wait for you to clean up your credit. Be sure your final document from the bank says it is a pre-approval letter and not just merely a pre-qualification. A pre-qualification is n

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

othing more than a “maybe”.

2. Work with an experienced real estate agent. Many new agents have entered the market in the last year and have little to no experience or mentoring help from the Broker

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

Check references and ask friends and family for a referral. Call the local real estate office in your town and ask for a recommendation. Visit their websites. Are they well organized and professi

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

onal? Set up some time with at least three agents and speak to them about your needs. Once you do that, you will have a good idea of who you trust and who you want to work with. Keep a supply of th

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

Following aspects would a

eir business cards on hand with you just in case you visit any open houses or model homes. It doesn’t cost you any more or any less to have your own real estate agent, no matter what you are buying,

dd to the challenges in developing combination products:

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

hether it is a newly constructed home or a resale.

3. Possibly bypass the home that has a serious defect. No home is perfect but some homes have blemishes that no matter what you do, you can’t disgu

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

ise it. Someday you may want to sell the home. Ask yourself if you are prepared to deal with this blemish on the selling end too. What if the current market changes, could this blemish take your ho

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

me completely out of the buyer’s market?

4. Get a comparative market analysis before making an offer. Don’t assume every house is priced right for the market. Some people “test the waters” first.

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

nsist on a comparative market analysis before deciding on your offer. Licensed real estate agents have all the tools to do this quickly and efficiently for you. Ask to see a report of all “similar”

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

Professional from academic institutions, pharmaceutical industries, health care indust

homes closed within the last 6 months, all homes currently under contract, and then all homes on the market in your immediate area. If you are still having trouble deciding on a figure and you have t

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

he time, ask to view a few of the similar homes for comparison.

5. Contingency clauses -- it depends on the market. In a fast and furious seller’s market most people try not to tack on any contingen

.

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

y clauses such as “contingent upon my home selling”. With multiple offers coming in, a seller will totally bypass your offer, even if it is a full price offer. On the other hand, in a buyer’s market

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

Companies that provide selfless information through particip

a contingency clause regarding obtaining an appraisal of less than or equal to the purchase price and the buyer’s approval of a professional inspection report make good sense and should be considered

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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Tips on how you can decide between setting up your own merchant account to accept credit cards, or go through a third party.

Whether it's presenting to your manager, a team of colleagues, or pitching for new business the success of any presentation is dependent on structuring a clear message and delivering that message with confidence and conviction. But how do you ensure that your presentation has a good structure with a message that is clear enough for your audience in the first place? This article by Liz Banks provides some very simple principles that will help you create a presentation that has more chance of being remembered and acted upon by your audience.

Avoid selfishness. It causes problems everywhere, and the e-biz world is no exception. To succeed, you must know your audience, care about them, and go the extra mile to meet them where they’re at. Make a bridge between your prospects’ minds and your own, and they’ll stream across in droves.

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Answers - Homebuyers: Avoiding Five Expensive Mistakes

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