Doug, that tractor sold for about $18,750-$19,500 new, so your price is a good one. You should approach the hours with a little caution because many of these tractors had the instrument panel replaced due to moisture/condensation and fogging. If the tractor's finish looks new or nearly new I'd be inclined to think it really had only 50 hours (hard to tell if it was outside most of the time). The loader should not have a lot of paint scraped off either.
Just use your head and best estimation. Even the engine oil would not be dark black after 50 hours. Engine oil changes come every 100 hours. As a minimum, I'd change all the filters, engine oil, and coolant. Check around the battery for severe damage from acid.
That's a good price for that tractor even if it had 200 hours or more.