Top Adding - Real Estate

So, you’ve found a home that you really like and are ready to make a serious offer. What an exciting time in the home buying process this 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

Before you do make a purchase offer, though, there are some things you should keep in mind. When coming up with an offer and approaching the

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

Examples of combination products may in

eller, it is absolutely critical to have effective communication between you, your real estate Agent, and the seller. It's really the key to g

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

etting the best deal on the house that you want.

Although market conditions are different depending on where you live, these tactics are trul

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

evergreen and can be used as guidelines to help you know where you should start. However, you should obviously take into consideration your

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

Combination pro

market conditions and make adjustments accordingly. For example, you may be in a very hot seller’s market where homes are often sold for pric

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

s higher than their initial asking price. Your real estate Agent should be able to review homes that have sold recently in your area of 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

est and let you know that “on average, homes are sold for 103% of asking price”. This will give you insight into what the fair market value i

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

for the home you want to buy and where you should start your offer process if you are truly serious about acquiring this specific property.

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

On the contrary, you may be in a buyer’s market that dictates that “on average, homes are sold for 97% of asking price”. By knowing this info

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

mation, you’ll have a good idea of what price you will have to pay to acquire the home. It will also help you set a high range for you offer

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

Following aspects would a

trategy.

When building an offer strategy, you’ll have to do your best not to get your emotions involved. When emotions enter the picture, th

dd to the challenges in developing combination products:

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

e most emotional person usually doesn’t win the game. Your logical decision making process will get clouded and will be overcome by the feeli

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

gs you’ve developed for the home.

Real Estate Purchase Offer Tip #1

Start low and come up later. Real estate sellers almost always counter-o

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

ffer.

Real Estate Purchase Offer Tip #2

Understand that:
1. The seller can be insulted and fail to respond.
2. The other Agent’s

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

ego could get involved and convince the seller not to respond.
3. The seller could get defensive or hostile.
4. The seller could be

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

Professional from academic institutions, pharmaceutical industries, health care indust

harder to negotiate with because of the initial offer.
5. The seller may not care if they sell it to you at all.

Real Estate P

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

rchase Offer Tip #3

The key questions to ask when a home buyer expects that a counter offer will be too low compared to the seller’s initial

.

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

offer:

1. What will it take to be the seller’s best buyer?
2. What will it take to avoid offending the seller?

Keep these tips in m

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

Companies that provide selfless information through particip

nd when you reach the purchase offer stage of your real estate buying process. They could literally save you thousands of dollars on your home

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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