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Top Articles - Presenting a Short Sale to a Homeowner
Well the economy has changed and seventy-five percent of the homes are upside down (term of art which simply means that the mortgage is higher than the market value of the home) and our locators run into homes that we can not purchase unless the banks will take a loss. So how do you get a ho
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
meowner to agree to take a short sale on a home?
One of our locators has had the opportunity to perform two short sales during the month of July both were signed by the homeowners. This article will focus on the basics of a short sale from the locators view and the packaging of the short sa
One of our locators has had the opportunity to perform two short sales during the month of July both were signed by the homeowners. This article will focus on the basics of a short sale from the locators view and the packaging of the short sa
; 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
le to the homeowner.
What is a short sale?
A short sale (sometimes known as a pre-sale by the banks) is a loss mitigation technique for the banks that allows them to move the property without having to foreclose upon the property. Yes the bank will lose some money and may need to get permi
What is a short sale?
A short sale (sometimes known as a pre-sale by the banks) is a loss mitigation technique for the banks that allows them to move the property without having to foreclose upon the property. Yes the bank will lose some money and may need to get permi
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ssion from the insurer on the loan to allow a short sale, but the bank is looking at it as less money lost than would be if they were forced to foreclose and then sell on the open market.
In our first example the homeowner had listed her property on the market for $299,000.00 and had lowere
In our first example the homeowner had listed her property on the market for $299,000.00 and had lowere
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
d to $270,000 130 days later. The listing had expired by the time it came into the system.
We first placed it in our system on July 20, 2006. Administration thought that the house had equity. Last sale of the house was in 1992 for the sum of $128,000.00 dollars. The same owner continued to
We first placed it in our system on July 20, 2006. Administration thought that the house had equity. Last sale of the house was in 1992 for the sum of $128,000.00 dollars. The same owner continued to
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
own the property. It was placed in a route first visit was on July 22, 2006 at 10:30 in the morning. Locator met the homeowner and scheduled a presentation for Monday July 24, 2006 at 10:00 a.m.. Based upon the note of the locator more research was completed on the property ( an index and r
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
ehab budget). It was the position of administration that the property had a value of $265,000 fixed and that if it could be purchased for 156-165,000 it would be a good deal. The locator visited the home on the 24th and wrote the following note:
Visited 7/24/06; 10:15AM. Presented HO with F
Visited 7/24/06; 10:15AM. Presented HO with F
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
esh Start Program. Secured release; faxed to Admin. HO indicated that she will be 4 months arrears @ end of July. Monthly mortgage is $1700. Principal due is $209K before fees. HO indicated that the furnace is defective and will need replacement. Current system is steam by oil. Oil tank is i
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
n the basement and appears in good shape. Basement is unfinished, stone foundation with cement floor. Basement was wet; not flooded. Difficult to photo because there were no lights that worked. Water is probably due to the failing/rotted bulkhead door. There is no inner door leading out to t
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
he bulkhead. Clutter everywhere. HO indicates that the roof was redone 5 years ago. No leaks were observed except around the primary entrance. Some damage due to a problem with the gutter backing up. Entire yard is knee deep in grass. House is surrounded by overgrown shrubs. Interior is prim
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
arily open living. Windows - sill rot. One bathroom - needs rehab. Kitchen - cabs are in good shape; gas stove; no overhead range. Don't recall seeing a dishwasher. Wood floor is in good shape on main floor. Basically, two bedrooms with an oversize utility room that could be made into a thir
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
d. All carpeted and will need replacement. Ceilings and walls in good shape. Addition is a huge room that needs new floor as well as paint. Deck appears to be in good shape. Above ground pool - liner intact, cover is destroyed. Not sure about the pump and filter. HO did indicate that the sep
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
tic needed replacement. fireplace on the main floor is used regularly. Not impressed with the wood stove in the "Great Room". Roof line between the Main house and the addition has a visible seem. Poor construction. Property has potential as a good starter home I suspect. Certainly a stretch
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
to call this a "3 bedroom". No clean way to set up a 2nd bathroom or a laundry room without major rehab. Could be wrong.
Based upon the note we now knew that we needed to purchase this property for under what is owed. We needed to do a short sale. On July 27, 2006 the documents were placed
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
up on the site for a short sale at a pourchase price of $155,000 plus 10,000 in a bill of sale for the fixtures in the house.
The locators presentation was scheduled for the following evening at the homeowners brothers house. The locator spent at a minimuim of one hour preparing for the mee
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
ting and took portions of the short sale memorandum, the index to complete a package for the homeowner to review while he discussed the pricing f the property.
From our conversations with the locator he started with the purchase price of the home in excellent condition being $265,000.00 dol
From our conversations with the locator he started with the purchase price of the home in excellent condition being $265,000.00 dol
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
lars. Once the homeowner agreed that was the purchase price he went through the list of things that needed to be fixed. (deferred maintenance) Septic system and the cost of replacement. Heating system and the cost of replacement, paint of the interior and exterior. Windows etc. The homeowner
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
agreed that the cost of the rehabilitation of the property should reduce the selling price to a minimum of $225,000.00 dollars. With that and a brokers fee the homeowner would walk out with little to no equity.
The locator then explained our short sale procedure and what it would net the h
The locator then explained our short sale procedure and what it would net the 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
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
omeowner if we were able to get the bank to agree to the process. Here the homeowner would receive $10,000.00 dollars for her dishwasher, washer and dryers and other personal property in the home. Consequently, the homeowner signed the deal because it was netting her more money than a regula
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
r straight sale.
So how do you get a homeowner to agree to a short sale: 1) You one prepare your package; 2) walk down the price with the regular reductions, 3) allow them to see that they will net more after the reductions of the regular sale.
Good hunting. http://frontgateconsulting.com
So how do you get a homeowner to agree to a short sale: 1) You one prepare your package; 2) walk down the price with the regular reductions, 3) allow them to see that they will net more after the reductions of the regular sale.
Good hunting. http://frontgateconsulting.com
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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