Actual - Real Estate

What is a Short Sale?

A short sale in the mortgage world amounts to a lender agreeing to accept a pay off less than the original mortgage. For example, if you

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

r mortgage was $200,000 and all your property would bring in todays market was $160,000, a lender may agree to accept the lesser amount to clear the debt. That

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

Examples of combination products may in

amounts to a forgiveness of $40,000.

Why Would a Bank Say Yes?

It’s a resignation on the part of the lender that this is the best it will get. Banks do not 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.

ant to foreclose and they do not want to take the property (known as a deed in lieu of foreclosure). They are not in the property management business and forec

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

osure look bad on the books. It may even affect their ability to borrow if the lenders have too many foreclosures on the books, its not a stretch to wonder whe

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

Combination pro

ther they have been prudent lenders.

Its not a Get Out of Jail Free Card

There are down sides to this procedure and it may not be the best alternative for yo

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

.

1. If their is a second mortgage on the property, its not likely the second lender will agree.

2. The IRS will consider the $ 40,000 of mortgage debt forgi

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

ven by the bank as gross income and the tax bite may be prohibitive. You would need to talk to your adviser (just when you can afford it right?) to confirm tha

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

the tax implications of a short sale make sense for your situation.

3. You cant fake this, you must truly be destitute. The seller will need to be in default

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

. That is to have stopped making mortgage payments.

4. You must clearly have no equity left in the property for the lender to agree to accept less than the fu

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

l debt owed.

5. It will be reported to the credit reporting depositories and it will remain on your credit report for 7-10 years. It’s a derogatory

What the

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

Following aspects would a

Buyer Needs to Know

1.You must have a firm offer before you ask the lender to approve the sale.

2.You do not have a deal until the lender approves your deal.

dd to the challenges in developing combination products:

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

The agreement with the seller is not the final agreement. The lender must agree to the purchase. It can be wise to create a contingency here requiring the lend

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

ers to respond within a specific time frame. This will give you a reason to back out if its dragging on.

3.The deal can be held up because lenders often will

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

ant to re-negotiate the commission structure, even though you have signed a listing agreement with your agent.

4.You can expect be offered the property “as is

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

”. This can be very a costly so we think you should have the property inspected by a building inspector, home inspection and a termite report. If you cannot ne

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

Professional from academic institutions, pharmaceutical industries, health care indust

otiate the “as is” component of the sale, cover yourself by knowing what you are buying. Make the deal contingent on your approval of the properties condition

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

.

Why Do Banks Do It

1.Banks do not want property they want cash flow.

2.It may cheaper and less time consuming for the bank than a foreclosure process

Why

.

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

Do Owners Do It

Although its reported to the credit agencies as a derogatory, its less severe than a foreclosure or bankruptcy and may be a bit kinder on your

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

Companies that provide selfless information through particip

FICO score. If you are looking for a short sale deal you might start with the lenders “Lis Pendens” list. This is where lenders start the foreclosure process

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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