Well we heard back from the seller's electrician. The two main problems I had with their job are items PSNH is going to handle. Then the building inspector will sign off.
She also got a quote from them on updating some of the circuits and will get another bid from my guy.
Thanks to all who have added informative comments.
And to the panic mongers... "Lighten up Francis!" You remind me of the guy who told me my home-made dock lines would get me a ticket because they aren't certified "Marine Rated." I welcome all additional constructive comments but if all you are gong to write is how you are peeing your pants at just the thought of this job, well... Please (quietly) enjoy yourselves in private.
@R2B: Open ground is a yellow light (center), red is hot attached to neutral or ground.