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Top Adding - What to Offer for HUD Foreclosures?
You have found your dream home and it is a HUD foreclosures. You have done a walk-through of the HUD house and it seems to be in good shape, just a few minor repairs.
Unfortunately, you have already
Unfortunately, you have already
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
made a major mistake. Your real estate agent, who is your uncle, has never sold a HUD home foreclosure. He does not have any idea how much you should offer for a HUD foreclosure. Your uncle is not a
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
lone; most real estate agents are not experienced in HUD foreclosure listings.
First, a little about what you can and can’t do when buying HUD home foreclosures:
1. You cannot buy HUD foreclosures w
First, a little about what you can and can’t do when buying HUD home foreclosures:
1. You cannot buy HUD foreclosures w
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ithout a real estate agent. A real estate agent does not have to take special training to sell HUD home foreclosures. I personally think they should have mandatory training. An inexperienced real est
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
te agent can cost you thousands of dollars in mistakes. Again, you have to use a real estate agent to buy HUD foreclosure listings.
2. You do not have to offer the list price. HUD home foreclosures
2. You do not have to offer the list price. HUD home foreclosures
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
are listed at FHA appraised “market value”. It is my experience HUD foreclosures are listed somewhere within 20% of market value either too high or too low.
3. If the HUD foreclosure listing is new
3. If the HUD foreclosure listing is new
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
on the market, you will not get it for 50% off the list price. You are wasting your time on a low ball offer. But, if the HUD house has been on the market 3 or 4 months then a low ball offer might wo
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
rk.
4. HUD will pay up to 5% of the purchase price for buyer’s closing costs. The amount of buyer’s closing costs you want HUD to pay must be on the initial bid form.
5. HUD will pay up to 5% of t
4. HUD will pay up to 5% of the purchase price for buyer’s closing costs. The amount of buyer’s closing costs you want HUD to pay must be on the initial bid form.
5. HUD will pay up to 5% of t
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
e purchase price for real estate agent commissions and it also must be on the initial bid form.
Ok, so what do you offer? The bidding process for HUD foreclosures is just a numbers game for HUD. The
Ok, so what do you offer? The bidding process for HUD foreclosures is just a numbers game for HUD. The
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
y don’t care about what you offer; they look at what they net from the sale of HUD foreclosure listings.
If the HUD home foreclosure is new on the market, HUD will usually accept 85% to 88% of the lis
If the HUD home foreclosure is new on the market, HUD will usually accept 85% to 88% of the lis
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
price net to HUD.
For example, the HUD house that you want to make a bid is listed at $100,000. Your uncle, the inexperienced agent, will be paid 5% of the purchase price for commissions and you wan
For example, the HUD house that you want to make a bid is listed at $100,000. Your uncle, the inexperienced agent, will be paid 5% of the purchase price for commissions and you wan
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
t HUD to pay $3,000 of your closing costs.
What do you offer so that HUD will net 88% of list price? You need to take what you know and back up to the figure you don’t know, the offer price.
You kno
What do you offer so that HUD will net 88% of list price? You need to take what you know and back up to the figure you don’t know, the offer price.
You kno
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
what you want HUD to net and what costs HUD will pay. First, you want HUD to net $88,000 ($100,000 X 88%). You want HUD to pay $3,000 of your closing cost and pay your uncle, the inexperienced agent
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
, 5% commission.
You take $88,000, add $3,000 closing costs, and you get $91,000. You still have to figure in your uncle’s, the inexperienced agent, 5% commission. $91,000 is the figure without the
You take $88,000, add $3,000 closing costs, and you get $91,000. You still have to figure in your uncle’s, the inexperienced agent, 5% commission. $91,000 is the figure without the
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
gent’s 5% commissions, or it is 95% of an unknown amount. You divide $91,000 by .95 and you get $95,790. That is the amount you can bid and HUD will net $88,000 with HUD paying $3,000 closing costs a
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
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
nd 5% Buyer’s agent commissions.
How did I determine HUD will accept 85% to 88% net of list price? HUD publishes Bid Results and Bid Statistics on all of their HUD foreclosure listings. Bid Results
How did I determine HUD will accept 85% to 88% net of list price? HUD publishes Bid Results and Bid Statistics on all of their HUD foreclosure listings. Bid Results
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
re the accepted bids and Bid Statistics are all bids including the ones that weren’t accepted. I am a CPA so I enjoy working with numbers. I also have brought HUD foreclosures for myself to fix up an
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
d resell. I want to buy HUD foreclosure listings for as cheap as possible.
This example is for HUD home foreclosures that are new on the market. It is a different ball game if HUD houses have been o
This example is for HUD home foreclosures that are new on the market. It is a different ball game if HUD houses have been o
.
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
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
the market for 2-4 months.
You also need to remember whoever bids the highest net to HUD gets the HUD home foreclosure.
What to offer for HUD foreclosures is not hard to determine if you or your rea
You also need to remember whoever bids the highest net to HUD gets the HUD home foreclosure.
What to offer for HUD foreclosures is not hard to determine if you or your rea
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
l estate agent have the experience or knowledge of buying HUD home foreclosures. It is just a numbers game to HUD and it is easy to figure the numbers that HUD will accept for HUD foreclosure listings
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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