1962 for €55,000 Have you already had the condition of the house checked by a building surveyor? That would be my first step. Houses of that age cost around €250,000 and more here, depending on the size of the plot.
So we had a (value) appraisal done. The condition is good. This was also confirmed to us by several architects who inspected it. There are no major problems (hopefully). It just needs to be brought up to standard in terms of technology and insulation. The price is due to the location and because we are buying it within the family. Accordingly, the history and problems of the house are well known.
Is the house really only worth €55K? Otherwise, a mixed gift may occur. Depending on who buys the property, gift tax may still be due. Since I am not allowed to post links, here is an example from another website:
The price is based on the location. It's not the best location, but optimal for us. And since, apart from the extension and replacement of a heating system in the 80s, only maintenance has been done, a lot has to be done now. That results in the price. And we have an appraisal from a neutral appraiser. I think there should be no problems with that.