It looks very much like it has had moisture issues. Wherever those chunks of concrete are painted and the painted pieces have been broken off, looks like water intrusion. The walls appear to have had a lot of moisture. I see one area of brand new paint at top of left wall. That is a bit suspicious to me, since its the only spot that was painted. I would call in a good inspector, and have this all checked out, so you know you are not buying a huge problem. It may not even be safe, if that ceiling comes down on someone. There are some mighty large gaps in that area.

We have the inspection this Thursday to go thru it before we proceed with purchase. I hope it's not too bad. Rest of house is beautiful.

I would also have a structural engineer check that out good, even with a home inspector. Home inspectors, are not always trained for something like that. It does not look good.