Top Adding - Real Estate

It is the same thing that draws million of people to EBay on a daily basis. "It" is the allure of a great deal or easy money. And in this case, "it" is the process of purchasing a home out of foreclosure. And no matter what anyone tries to tell you, this process is not for "dummies".

So how do you purchase a foreclosed home? There are three primary w

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

ays ...

The Sheriff Sale

The first option that usually comes to mind, when you talk about buying foreclosed homes is the Sheriff Sale. And while it holds the "promise" of buying your dream home for only 2/3 of its appraised value those promises are often quickly broken. Who wouldn't want to buy that $300,000 home for only $201,000?

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

Examples of combination products may in

However, the reality is that many foreclosed homes sell for at or above their market value. Why? Well it is pretty simple; the lending institution has to bid the amount that is owed on the home to satisfy their insurance company. Go to one of these auctions and the "bank" is pretty easy to pick out - it's the person that bids $294,323.54 for your $300

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

,000 dream home. No messing around, no dealing. Now, in some cases there are deals to be found, but most of the time - especially in this era of zero down lending - this sale is a formality and not a deal opportunity.

If you are looking to purchase a home at a Sheriff Sale, the FIRST thing you need to do is contact a local title agency. For ~$250 the

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

y will conduct a preliminary title report. Why is this important? The Sheriff will issue a quit claim deed, which means that while they were in possession of the property there were no liens placed against the home. Well that's great, but it wasn't the Sheriff that led to the home being sold at auction now was it? So, you can assume that there will be

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

Combination pro

liens against the home - and who has to pay those liens if you buy the home at auction? See, you're no dummy.

Benefits: It gets you out of work on a Wednesday morning. It is possible that a deal could be found, though it is rare.
Weakness: You are bidding against the bank that holds the note. You are

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

required to put 10 percent down the day of the sale. The original owners maintain the right of reclamation until your deed is recorded, so even as high bidder you could still lose the home.

Usual Results: The bank calls the initial bid for what is owed on the house and the Sheriff waits three seconds and says "sold".

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

>Post Repossession Purchases

The second most common form of repossession purchases arises after the lending institution has re-purchased the home. The majority of the institutions will list their homes with real estate agents in the "area" (and I use area loosely, as the Central Ohio area, or Southeast Ohio area...) that will then pu

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

t the home on the local MLS service. There are a lot of different ways to find out about foreclosed homes and repossessed homes. However, you don't need to PAY for the list. HUD, by far the largest seller of these homes, has a listing on its Web site and each of the lend

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

ing institutions has their own way of getting rid of these houses. By paying for a foreclosure list, all you're doing is "giving away potential profit" unless you are too busy to find the free information on your own.

Once you've found the home, this is where you have a lot of options. The bank has a level of insurance in low-or-no down payment homes

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

(PMI), which covers the purchase price if the owner defauilts. Hence, in the post-repossession market, they are usually willing to sell the home for less, especially once it gets to the 90 days on market range. This is really where the possibility for a deal comes into the equation. Be staunch and battle with the lendor to get the best deal - remembe

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

Following aspects would a

r it is a corporation; they are usually looking at the bottom line.

Now when you go to buy these homes there are several of the institutions that will require you to be represented by a real estate agent. This is a complex process and I would strongly recommend having an agent that you can trust in these transactions. Remember how you treated that la

dd to the challenges in developing combination products:

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

st rental car; now figure that the former owners have probably treated this home like a rental the past 6-8 months. Still, think that 3 percent of the purchase price isn't worth the piece of mind? If you do go alone, make sure to get all the inspections completed and to have a good title agent - and be willing to pony up the extra cash for the Alpha 9

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

8 insurance, it could save you a bunch in the long run.

Benefits: There are deals to be found here. Especially in the current market, the bank doesn't want to have too many homes on inventory
Weakness: The house was basically a "rental", so have EVERYTHING inspected and make sure the title is clear of

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

all liens.

Usual Results: The bank doesn't like sitting on houses, so make a low-but-fair offer on the home and be prepared for a lot of negotiations - and a slow sale.

Pre-Repossession Purchases

Probably the last one that people usually think of, though maybe the most lucrative, is the pre-reposses

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

sion purchase - sometimes referred to as a short-sale. It costs the average lender $50,000 to foreclose on a home. So if you can find a home that is in the very early stages of foreclosure - you have the leverage and the chance for a great deal. The bank doesn't want to foreclose - that looks bad on their books and they have to pay out $50,000 - and t

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

Professional from academic institutions, pharmaceutical industries, health care indust

he owner doesn't want a foreclosure on their record. The keywords to finding short sales in home listing are "offers subject to bank approval". Why?" Well, the process goes something like this. The home owner (or their representative) will go to every lien holder against the property and ask what they would take to satisfy the lien. Then, they'll add

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

all those values up and there is your basic value for the home. The home owner will not make a dime in this deal, but it allows them to escape without the embarrassment of having their name splattered throughout the papers as being in foreclosure.

Benefits: You can get a nice deal, and not have to worry as much about the bank

.

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 homes sitting empty.

Weakness: There is a time factor here. Hit them too early and the home owner will still be in denial; hit them too late and the bank will have spent enough that the deal becomes less.

Usual Results: There is a time factor so these deals, so they move quicker than post-reposse

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

Companies that provide selfless information through particip

ssion deals. The banks have final say, so every offer is looked at financially and weighed by the banks.So happy hunting on the foreclosure home trail!

Please note that these scenarios are valid only in Ohio; please consult with a licensed sales agent in your state for the rules and such are different in each state.

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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