>>Check the lease to ensure that there are no hidden pitfalls - eg: the freeholder may have an obligation to repair certain aspects of the structure and wants to offload the risk or responsibility.
And this is where I would start.
Let us say that #1 daughter & cohorts would pay [say] £15,000 and think the deal was reasonable, why are they being offered it for £7,500
1) Current owner is an idiot
2) Current owner has a life pressure that is not known by #1 daughter
3) Current owner knows something that #1 daughter does not.
Essentially that means there is a 2/3 chance that daughter #1 is not in possession of all the knowledge she needs.
My guess, there's an impending / possible / potential liability that the current owner would like to avoid. That doesn't mean that the deal should not be done, but it probably does mean that it is a gift horse into whose mouth staring should occur.
Also do beware of the procedural pitfalls, some of which were mentioned by Terry and ensure that considered thought is involved. Or a solicitor that you can sue - either/or.
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