I'm looking at buying this bike:





Does anyone have any idea what frame that is? I can make out "KIN" at the end of the word. The ad mentions it is lugged steel

I haven't yet heard from the seller. He's asking $250. I'm new to buying a bike, my friends have made several suggestions on what to look at though. Sizing it, check the frame for possible damage/rust, check the brakes, check the chain, make sure the wheels aren't bent. Are there other things I'm missing?

From the pictures it looks like the handle bar tape could use to be rewrapped, would it be fair to ask for $10 off?

Erg, I probably should have posted this in the appraisal sub-forum. Sorry!