Buying a house from a family member as sitting tenants.

Does anyone have recent experience of purchasing a property from a family member at sitting tenant price?

Is there a fixed discount or is there some other calculation that determines the price?

This has been kind of dropped on me today and have no idea.

Do I contact a solicitor or an Estate Agent?

I only know that I have to be the owner for 7 years to avoid tax (or summat like that).

No, there's no statutory discount. The price can be whatever V and P agree.

As to the 'seven year' point, maybe you're thinking of Capital Gains Tax or Inheritance Tax consequences?

Either way, yes- see a competent Accountant or Tax Adviser.