Actual - Real Estate

Home sellers and owners refinancing their mortgages often have to endure a unique ordeal: the home appraisal. If you’re selling, you want the highest appraisal v

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

alue possible to make sure the sale goes through. If you’re refinancing you’re probably cashing out equity. Either way, each dollar of appraised value is potentially 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

dollar in your pocket.

It’s never a good idea to try and fool the appraiser – most of them have seen every trick in the book – but there are simple things you can do t

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

o squeeze some extra value or equity out of your home.

1. Make the place presentable.

You don’t have to be able to eat off the floors – the house doesn’t even

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

have to be as spotless as it would be for an open house. But impressions matter. Strewn laundry, dirty dishes, full wastebaskets, all can contribute to the wrong kind

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

Combination pro

of impression.

2. Fix or replace broken windows, railings, steps, and other hazards.

Your chances of being able to avoid this, even if the buyer doesn’t care, a

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

re slim to none now that the mortgage lender wants an appraisal. (And zero if your buyer is going through the FHA.) So take care of it beforehand. And any appliances

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

that are staying with the house, if you’re selling? Those have to work, too.

3. Have your real estate agent present during the inspection.

You can’t usually f

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

ool an appraiser – and your agent can’t either. But your agent is trained better to think on his feet at times like these, and is more likely to address nagging concern

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

s of the appraiser’s than you are. Sellers, your agent works for you – put him to work during the appraisal.

4. Love what you’ve done with the place?

Hardwood

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

loors four years ago? Bathroom remodeled two and a half years ago? Lawn re-sodded last summer? Bring these to the appraiser’s attention. Don’t expect your appraised

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

Following aspects would a

value to go up by the amount you invested, but don’t be shy about pointing out what you’ve done.

5. Control your pets and kids.

The less stressful the appraiser

dd to the challenges in developing combination products:

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

’s inspection, the better off you’ll both be. An appraiser worried about being attacked or who is constantly distracted isn’t as likely to come through with the highest

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

value.

6. Control the urge to do the appraiser’s job for him.

You will often hear that you should suggest homes sold in the area recently the appraiser can com

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

pare yours to. In truth, the appraiser considers that his job, and is more likely to resent it than be grateful. And he may have a point. You – and your agent – are in

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

terested in getting the highest value possible. The appraiser knows that, and may actually discount a comparable sale you come up with.

That being said, information an

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

Professional from academic institutions, pharmaceutical industries, health care indust

d suggestions offered will often be graciously received. Just don’t overdo it. Understand where the appraiser is coming from – he understands where you’re coming from.

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

7. Cooperate.

A lot of people don’t like a stranger wandering around their home sizing it up. But it’s for your own good. And a friendly, cooperative owner ma

.

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

kes a much more favorable impression than a contentious one.

When it’s time to order your appraisal, it’s normal to feel a bit worried or intimidated. However,

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

Companies that provide selfless information through particip

if you’ve done your homework as to the value of your home, you should rest easy. Follow these simple suggestions, and when the appraisal is in, you will surely be happy

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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