Answers - Real Estate

In previous articles, we’ve discussed buying preforeclosures, which means buying the property after the foreclosure process has begun but before it’s completed. If you are unable to prevent the foreclosure, the p

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

roperty will go to auction, which is another buying opportunity. If you are unable to buy at the auction, you still might be able to get a good deal on a foreclosed property after the auction.

There are two ways

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

Examples of combination products may in

to buy after the auction. First, if the property doesn’t sell at the auction, the lender that foreclosed takes possession of it and you have the opportunity to negotiate a deal with the lender. Second, many inves

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

tors who buy at foreclosure auctions do so with the intent of reselling quickly to either end users or other investors.

Taking REOs off the bank’s books

The common term for f

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

reclosed properties on lenders’ books is real estate owned, or REO. These are nonperforming assets that do not reflect positively on financial statements. Lenders are often eager to unload them, even if

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

Combination pro

hey have to take a loss.

If you’re going to make an offer on an REO property, the best time is to do it very soon after the auction, before the lender has a chance to list the property with a real estate agent.

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

Because most of the other liens are wiped out at the auction, lenders will often take care of any tax liens so that they can provide buyers with a clear title.

How good of a deal you can make depends on a variet

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

of factors, including the condition of the property, how willing the bank is to work with you, whether the property has been listed with a real estate agent (which means commissions have to be paid), and how lon

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

g the lender has been holding the property (if you don’t make your offer immediately after the auction).

Many lenders have departments dedicated to managing their REO properties. This is the department that will

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

likely review your offer and make a decision to accept it, reject it, or counteroffer. When you put together your proposal, include as much information as possible about the condition of the property, necessary r

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

pairs and improvements, and other details that will affect the value. REO asset managers know that investors need to buy at below market value; you can help them make a decision in your favor by providing them wi

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

Following aspects would a

th the information they need to justify selling the property at the price you’re willing to pay.

Buying from other investors

One of the challenges of buying at the auction is

dd to the challenges in developing combination products:

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

that you must have cash, typically either at the auction or within 24 hours. Some established investors with sufficient cash reserves have found it lucrative to buy at auction and quick-turn those properties to o

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

ther investors or end users looking for a bargain. Buying from another investor after the auction gives you a little more time to get your financing lined up.

Here’s an example of how buying from another investo

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

after the auction might work: The property sells at auction for $125,000. Its current fair market value is $140,000 and its after repair value is projected at $165,000. The cost of repairs is estimated to be $12

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

000. The at-auction buyer could do the repairs and sell the property at retail for a $28,000 profit. Or he could sell the property to another investor for $130,000. In that situation, the at-auction buyer makes $

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

Professional from academic institutions, pharmaceutical industries, health care indust

5,000 on the deal, and the other investor stands to make $23,000 (or potentially more, if he holds the property as a rental).

You can identify this type of investor by attending the auctions and paying attention

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

to the bidders who show up and buy time after time. Introduce yourself, give them a card, and tell them you’re interested in buying one of their properties. If you strike a deal, be sure to do your due diligence

.

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

and research any liens that might not have been erased with the foreclosure so that you get a clear title on the property.

Each phase of the foreclosure process—preforeclosure, at the auction, and after the auct

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

Companies that provide selfless information through particip

on—provides savvy investors with the potential for a profitable deal. The key is to understand the strategies, apply them effectively, and be willing to walk away from any deal that doesn’t meet your requirements

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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Answers - Focus on Foreclosure, Part 3 - Buying Foreclosures After the Auction

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