You might want to research the correct way to moisture barrier your foundation before covering anything up.Im reading a lot of posts where they are more concerned about cosmetics without realizing the repricussions of mold and rot. Mold happens fairly quickly, rotting generally takes years, but both are hidden issues that end up being costly as you end up tearing out what you originally accomplished.Water staining is a red flag,but if not damp or wet, could have been a past issue corrected by the former owner.Possibly you can look into that by contacting the former owner, but in any event, i would take measures to properly install the correct vapor barrier for your project as preventive maintenance.

sierraeast is absolutely correct.

We learned the hard way from a previous house and remodeled our most recent one correctly. We had a basement waterproofer come in and put a barrier on all walls that would be finished that tied into a perimeter drain system that went to the sump pump.

Don't forget to get a dual sump pump system with a battery backup too. They seem expensive until your out of power, or have a single pump failure, and you see water creeping up on the thousands of dollars of improvements in your basement. I've done that once and it was enough for me.