I paid that for the first 150H that I purchased. We found her in a hangar covered with dust and just out of annual. He was asking 17K and I told him that I'd give 14K and pay for the annual but not for repairs. She had about 5200TT, 425SMOH (about 10 years old), no significant DH, complete logs and paperwork (even the original spec sheets)and lousy but functional paint. Two weeks later he took the offer. The annual was $600.00. I searched for 9 months before we stumbled across this one just by luck. Flew her 3 1/2 years. Now, I just bought a 150F after being "planeless" for almost 1.5 years. Looked at a lot of different planes some good and some not so good! Keep looking and keep asking questions. Walk if it just doesn't feel right. Find a "buying buddy". The right one will come along.
