Divide the list into needs and preferences
A known leak, a broken system, and dated cabinets are different issues. Describe each accurately rather than calling the whole house outdated. Keep work you want for your own use separate from work you are considering only to prepare for a sale.
Compare alternatives using the same starting point
A renovation estimate and a purchase price cannot be compared directly. Think about the remaining expense, the effort of managing the job, and the eventual selling costs of each route. Use your own figures instead of assuming improvements return everything they cost.
Ask how condition affects the proposed terms
Which problems has the buyer considered? What review is still outstanding? Could findings change the proposal? These questions matter more than an as-is label alone. Read the agreement for inspection, price, and responsibility details before making a decision.