I think you should get a foundation specialist in to make sure the excavation by the previous homeowner didn't comprimise your foundation. You're a braver soul than me, buying a house where someone had dug out a space in the basement.

We did have the house inspected before we bought and the foundation is sound. Believe me it was nearly a deal breaker. We passed on the house when we first saw it. We were just starting out and didn't have a lot of money. We were looking to rent a house/apt. But this house was the same $ as rent and has great potential. It is in my "dream" area. The school district is great and the homes here sell for a sickening amount of bucks. We actually made out like bandits.