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Selling a commercial business? You may need legal help

You've owned your business for several years. You started out in a small building and rented until you could afford to put a down payment on a larger building.

Over time, you continued to invest and build your assets, and you now need to move to a larger building again. Since this is your first time selling a commercial building, you want to make sure you do it right.

That's where your attorney will come in. They can help you create the contracts you need and support you while you look for a new property as well.

Selling commercial real estate: Off-market or on-market?

When you sell commercially, you need to decide if you want to sell on- or off-market. Off-market sales are fairly common, because other business owners may already be looking for spaces like yours. Through colleagues and business connections, you may be able to reach them and work out a deal.

On-market sales are beneficial, because your business will be on the market and available to a larger number of people. With this type of sale, you may want to work with a commercial agent or to advertise your property.

What should you do if you're ready to sell your property?

If you're ready to sell, one of the first things to do is to reach out to your attorney to find out if there are any restrictions or laws that will apply to selling your business. They can help you work through the process of selling your business, too, and will be there to review contracts and offers.

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  1. Charles W. Dobbins, Jr.

    Charles earned his J.D. degree from the University of Virginia in 1974

    He was graduated from Washington & Lee University in 1970 with a B.A. with Distinction

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    Mark W. Dobbins

    Mark earned his B.A. from Emory University.

    He earned his J.D. from the University of Louisville.

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    Patrick T. Schmidt

    Patrick earned his B.S. in Accounting from the University of Kentucky in 1989.

    He earned his J.D. from the University of Kentucky in 1992.

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    Terrence L. McCoy

    Terry earned a B.A. from Dartmouth College in 1964.

    He earned his J.D. from Duke University in 1967.

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    Lisa Koch Bryant

    Ms. Bryant has extensive commercial litigation and bankruptcy experience. Prior to entering private practice, Ms. Bryant served as head of litigation for the Federal Land Bank of Louisville.

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  2. Wm. Stephen Reisz

    Thomas graduated from the University of Louisville Business School with a B.A. in 1973

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    Sandra F. Keene

    Sandra earned her Bachelor of Health Science degree, with Honors, from the University of Louisville in 1982.

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    Elizabeth M. Jenkins

    Colgate University, B.A., Political Science, magna cum laude, 1983

    University of Virginia, J.D., 1992

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    Edward L. Galloway

    Ed graduated from Indiana University in 1967 with a degree in history.

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    Thomas G. Karageorge

    Thomas graduated from the University of Louisville Business School with a B.A. in 1973

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  3. Tacasha E. Thomas

    Tacasha attended Harvard University in Cambridge, Massachusetts during the summer of 2001, where she studied courses in law and psychology.

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    Ayala Golding

    Ayala received her J.D. in 1994 from the University of Louisville, Louis D. Brandeis School of Law, Louisville, Kentucky, where she was a member of the Brandeis Family Law Journal, and

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    Kacie A. Wilkinson

    Kacie A. Wilkinson recently joined Tilford, Dobbins & Schmidt, PLLC, where she practices in the areas of business law & transactions, real estate, estate planning and probate.

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    Gwendolyn Chidester

    Gwen recently joined the Firm after being employed by notable Louisville companies for over 15 years in a variety of capacities including Corporate Counsel, Director of Human Resources, and Risk Manager.

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    William A. Buckaway, Jr.

    Bill earned his B.A. from Centre College in Kentucky in 1956.

    He earned his J.D. from the University of Louisville in 1961 where he was a

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    Terrell L. Black

    Terry earned a B.S. in Social Science from Campbellsville College in 1966.

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    John A. Wilmes

    John was admitted to the Kentucky bar in 1977 and admitted to practice before the U.S. District Court, Western District of Kentucky in 1979.

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