Top Adding - Real Estate

You may have gone by a house and saw the orange stickers on the front door or windows. You looked at the sign stating this was a HUD homes for sale. It also said to contact a

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

local real estate agent.

You looked around the property and thought this is what you have been looking for as a home for yourself or as an investment. The problem is you hav

; 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 not brought a HUD home for sale or you really don’t know what they are.

To begin with HUD homes for sale are HUD foreclosed homes. They are homes that have been financed by

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

an FHA loan and the loan has gone into foreclosure. The HUD foreclosed home has been assigned to a Marketing and Management Contractor to service and market the property.

Th

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

ere are a lot of interest in HUD homes for sale by both home buyers and investors. They also are lot of mistakes made in buying HUD foreclosed homes. I am going to list 5 com

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

Combination pro

mon mistakes made buying HUD homes for sale.

1. Finding a Real Estate Agent. I am listing this mistake in buying a HUD foreclosed home first because I think it is the

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

most common and the most costly mistake. You probably think all you have to do is called any real estate agent or one that you have used in the past. It is my opinion that 9

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

5% of real estate agents have not sold a HUD home for sale or worst yet; most real estate agents don’t even know what one is. Buying a HUD home for sale is not anything like b

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

uying a home from a home owner. You need to search for a real estate agent that is experienced in HUD homes for sale.

2. Paying too much for the HUD Foreclosed Home.

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

The HUD home for sale is listed at what HUD calls “Fair Market Value.” It has been appraised by a FHA appraiser. My experience has been that the list price of a HUD foreclos

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

ed home is within 20% of market value either too low or too high. Again that is another reason you need an experienced real estate agent in HUD foreclosed homes. The agent sh

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

Following aspects would a

ould do a Competitive Market Analysis of the property. An experienced agent also will be able to determine the lowest bid that HUD will take for the property.

3. Inspecti

dd to the challenges in developing combination products:

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

on. You should have an independent inspection done on the property. Most HUD homes sale will have what HUD calls a “Property Condition Report.” The Property Condition re

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

port is similar to an inspection and it gives you a pretty good idea of the HUD foreclosed home. You still need to have an independent inspection done.

4. Sold “As-Is” Con

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

dition. All HUD homes for sale are sold in “AS-IS” condition and HUD means AS-IS. They will not do any repairs! So when you make a bid on a HUD home for sale, you should

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

adjust your bid amount to reflect needed repairs.

5. Closing Costs. HUD will pay up to 5% of the purchase price for certain Buyers’ closing costs. The 5% must be in

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

Professional from academic institutions, pharmaceutical industries, health care indust

cluded in the initial bid and the key word is “certain” closing costs, not all. Again, I know I am repeating myself, but an experienced real estate agent in HUD foreclosed hom

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

es would know which closing costs HUD will pay. For example, your winning bid on a HUD home for sale was $100,000 and you asked HUD to pay 5%($5,000) of your closing costs. H

.

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

UD will only pay certain closing costs and those closing costs only came to $2,000. You would LOSE $3,000($5,000-$2,000).

Buying HUD Homes for sale can be very profitable if

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

Companies that provide selfless information through particip

you can eliminate the costly mistakes. Common mistakes that can be avoided by doing some research and finding an experienced real estate agent in selling HUD foreclosed homes.

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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I know you are a polite person ... and probably say thank you to most of your clients. But that is not what I am talking about here ...

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