Answers - Real Estate

Selling your first home can be a nerve-wracking experience. When buying your first home, it’s normal to be a bit scared – but also excited & with plenty of plans for the future. However, when it’s time to

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

finally sell your largest investment, many sellers are filled with questions and doubt. Will my home sell? How should I price it? What do I need to do to make sure it’s in showing condition? When it’s time to

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

Examples of combination products may in

sell your largest investment, you need sound guidance & advice. Follow these tips to your first successful sale.

1) What Was Once Your “Home” is Now Your “Property”

It’s normal to be emotional about you

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

r home. You’ve celebrated holidays, entertained friends & family, & hopefully have great memories in your home. However, as soon as you’ve made the decision to sell your home, it now becomes a financial asset.

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

It’s no longer your “home,” it’s now your “property.” As hard as it is, try and remove any emotion from the sale of your property.

2) Location, Condition, & Price

How quickly & successfully you can sell

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

Combination pro

our property boils down to location, condition, & price. There’s not much you can do about location. However, you have the perfect opportunity to make sure your home is in great showing condition, and you have f

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

ull control over the asking price of your property. Make the right decisions over what you can control – condition & price – and you should be able to successfully sell your property in a reasonable time.

3)

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

Forget How Much You Paid For Your Property

What you paid for your property has little to no effect over its present value. The most important factors to your property’s present value are the comparable homes

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

that have sold within the last 6 months. This can be a little hard for some sellers to swallow, because it’s something you have no control over. However, understanding this fact is key to successfully selling y

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

our home in a reasonable amount of time.

4) It Doesn’t Matter How Much You Spent on Improvements

Improvements to your home do play a big part in your home’s value, but the amount you spent o

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

those improvements doesn’t mean much. If you spent $1000 on materials for wood floors, and installed them yourself, that doesn’t mean that your home is worth only $1000 more. Conversely, if you significantly ov

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

Following aspects would a

erpaid for improvements to your home, it doesn’t mean that your home is worth that amount more. Again, market value plays the biggest factor. If homes with wood floors typically sell for $5000 more in your neigh

dd to the challenges in developing combination products:

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

borhood, your home is worth $5000 more than comparable homes without wood floors.

5) Consult a Realtor ASAP – And Focus on Service

Once you’ve made the decision to sell your property, contact a reputable

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

Realtor as soon as possible. Interview Realtors until you find the agent who is right for you – it might take one listing presentation, and it might take many more! While it is important to take note of the mark

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

eting fees each agent will charge, focus your attention on the services an agent will provide. Selling your home can be stressful, and you want to make sure that the agent guiding you through the process will pro

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

ide you exceptional service & communication throughout the transaction.

6) You Get One Chance to Make a First Impression

Property condition can help you immensely when selling your home – and it can also

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

Professional from academic institutions, pharmaceutical industries, health care indust

be as big a detriment. Make sure & improve your property as much as possible – within reason. Touch up any necessary paint, de-clutter your home, plant fresh flowers, & make sure your home has a pleasant aroma.

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

Your Realtor should help you with sound advice to get your home in top showing condition.

7) Relax

If you’ve priced your home correctly, made sure it’s in good showing condition, & hired the right agent,

.

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

you should sell your home in a reasonable amount of time. However, you’re still at the mercy of the market. Relax, maintain your home’s showing condition, & adjust the price if market conditions & feedback call

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

Companies that provide selfless information through particip

for it. Pay attention to average days on market, but don’t become too distraught if it takes a little longer to sell your property. You’ve done all you can to successfully sell your property, and it surely will

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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13 rules you should never forget while you fundraise for your non profit program

Corporate profits are way up and yet they are all hoarding cash? Maybe they can bail out the government spend thrifts? But seriously what will they do with all this cash, as none of them are out buying up other companies right now other than the transportation sector.

Many people thing that the Basel II Capital Adequacy Requirements for Operational Risk are aimed at collecting loss data. They are making a mistake. The heart of the matter is the need for appropriate risk managemant.

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