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  • Top Adding - Selling Your Home: Top 5 Reasons FSBO's Don't Sell

    As a home inspector, I get to see many mistakes by people selling their home without a real estate agent, commonly referred to as FSBO’s or For Sale By Owner. If you do your
    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
    homework and research and have some financial sense, you can probably sell your own home. However, I see many people who fail when going this route.

    Here’s why:

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

    Examples of combination products may in
    cing The Home Too High: Seems everyone thinks they live in a goldmine. The common misconception is that they will price it high so they can come down a little bit during
    lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

    negotiations. This has several problems related to it.

    Here’s one. Many homebuyers are on a budget. Let’s say I’m looking for a home like yours in your neighborhood and mo
    here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
    st of the homes there that are comparable are in the 135k to 145k ranges. However, you have tile floors and stainless steel sinks along with a few other cosmetic improvement
    d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

    Combination pro
    . You think your home is worth at least 147k. Tack on a few thousand more “so you can come off of the price during negotiations” and you start your home at 152k

    As a homeb
    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
    uyer, the most I can spend is 145k. Although your home is what I’m looking for, you’re outside my price range so I won’t even bother to look at your house.

    That’s just one
    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
    example of how a too high price is going to hurt you. There are many, many more!

    2. Letting Emotions Direct Your Actions: Many times this is the reason your home is
    nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
    priced too high. Remember, this is a business transaction. You have a product to sell, you need act accordingly.

    3. Failing to Get Your Home Inspected Before Listing:
    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
    > I’ve seen FSBO’s go to great trouble and expense to get their home ready to sell only to find out from the potential Buyers Inspector that there are major structural, plum
    ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
    ing, electrical or mechanical issues with the home.

    Depending on the severity of the problems, this probably cost you a Buyer and it means your home will be sitting on the
    ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

    Following aspects would a
    market for a few more weeks or months.

    National survey’s reveal that homes that have had pre-inspections sell faster with less hassle at closing. FSBO’s are no different.

    dd to the challenges in developing combination products:

    Which markets to tap where the combination products can do fairly well?
    Which combination prod
    4. Being a Jerk: I see this one more than you’d think. For some reason selling your home by yourself seems to give you a special excuse to be a jerk judging by the wa
    cts are meaningful and rational?
    Which therapeutic categories to select?
    Which Combinations can address unmet needs of the patients?
    Do combin
    y some FSBO’s act.

    Being unreasonable in your actions will drive away Buyers. No one likes a jerk!

    I’ve seen FSBO’s make some of the most stupid request of Buyers like; on
    tions increase the patient compliance?
    What would be the developing cost?
    How to tackle the risks encountered during combination product developmen
    e guy would only show his home on Sunday afternoons between 4 and 6 p.m. and you had to RSVP so he’d have you on his “list”. He wondered why no one was showing up at this ho
    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
    e. I saw another FSBO that would not allow his home to be inspected without him, his attorney and his inspector being present. He also required each item to be brought up to
    ping new procedures for reviewing their safety, efficacy and quality.

    Professional from academic institutions, pharmaceutical industries, health care indust
    him and his group before telling the Buyer. Needless to say, we didn’t inspect this home. Note: many state SOP’s require that you do not divulge information to anyone other
    y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
    than the Client.

    It’s a fact of life, being a jerk cost you money. Not only in real life, but also when you go to sell your home!

    5. Not Pre-qualifying Your Buyers:
    .

    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
    > Letting any old Moe and Joe lock up your home while they try and get qualified can cost you Buyers if they fail to qualify for a loan. Require that all potential Buyers be
    elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

    Companies that provide selfless information through particip
    pre-qualified!

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    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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