Top Adding - Real Estate

Here is your chance to learn from other home buyers’ mistakes! We’ve listed the five most common mistakes that a home buyer can make:

1) Failing to 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

lan for the future – Even if you think you will live in your new house for the rest of your life, you should still plan your exit strategy. If, for som

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

Examples of combination products may in

e reason, you needed to sell your home, would you be able to? And, if you could sell the home, would you make any profit from it? Be sure to talk with

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

your real estate agent about buying a home with resale value so that you can plan for any problems that may come up in the future. He or she should be

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

able to tell you what to look for.

2) Not checking the Covenants and Restrictions – Some neighborhood Homeowners Associations are stricter than other

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

Combination pro

. An active HOA can be good (it can keep your neighbor from painting his house Pepto-Bismol Pink). But, if you want to store your boat at your house,

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

add on a garage, or install a privacy fence, be sure to check with the HOA in the neighborhood before you buy. If one of the neighborhoods you’re inter

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

ested in doesn’t allow your boat, for example, you can either price boat storage elsewhere or look in another neighborhood.

3) Not getting all agreeme

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

nts in writing – So that all parties will do what they say they are going to do, it is important to get these claims in writing. Your real estate agent

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

may get the builder or the seller to sign written addendums in order to protect your best interests during the home buying process.

4) Neglecting to

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

perform home inspections – When your real estate agent writes your contract to buy a home, he or she can include an inspection contingency. This contin

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

Following aspects would a

gency gives you a way out of the contract if the home inspection reports more repairs than you want to make. A termite inspection is usually required b

dd to the challenges in developing combination products:

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

y your mortgage company, but a regular home inspection is usually not required. We recommend getting this standard home inspection so that you know the

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

condition of the home before you buy it. So, if there are serious foundation problems that you did not notice earlier, your inspection contingency can

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

get you out of the contract (and usually without any penalties).

5) Forgetting to do a final walk-through – You have an opportunity to walk through y

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

ur new home right before you officially buy it. Usually the final walk-through takes place the day of or the day before your closing. Chances are that

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

Professional from academic institutions, pharmaceutical industries, health care indust

when you first looked at the home, the seller was still living there. So, during the walk-through you can see the home completely vacant and ready for

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

you to move in. You can see for yourself that there are no problems with the house before you close on it. Also, if you know that you will not be abl

.

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

e to go to your final walk-through because of a flight schedule, etc., you can ask your real estate agent to go instead.

Now that you’ve read five mist

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

Companies that provide selfless information through particip

akes made by other home buyers, you shouldn’t make them yourself! Learn from other people’s mistakes so that you can have a good home buying experience

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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