I'm not a lead paint abatement expert but I have some thoughts I'd like to share w/you while you're waiting for more-expert advice ...
First, I'm not a fan of lead paint. (I don't know of anyone that is when it comes to the home and children in it.) Hence, I'd either not buy it or have it removed. It is costly to remove and you may not be permitted to do it yourself. You need to check w/your municipality to see what requirements need to be met.
I'd say have a contractor do it. Yes, it's costly but if you can get an estimate, have it taken off the price of the house. Or, if you grow $$$ on trees in your spare time, you needn't worry about anything. (But then, I'd have to wonder why you aren't kicking sand in the Carribean either ...) Anyway, I'd say it is necessary. I'll bet a Seller's Disclosure's Form indicated the lead paint to you. You do have a Seller's Disclosure Form to read, don't you? (Ask your Agent for one. Who knows what else there is.) YOu will have your home inspected by an ASHI-Approved Inspector, right? And you will have your OWN Real Estate Attorney to protect your interests, right? On a good day, these are all necessary in my opinion. But on a 'day' like yours, I'd say they're MANDATORY.
As for cost, that depends on what means need to be taken to get to the end. I don't think anyone can really give you a real estimate w/o knowint the true extent of the paint. Your home inspector may not be able to tell you the definitive extent of the lead paint but one of your Lead Paint Contractors will DEFINITELY be able to tell you. Have one come in and do an estimate if you want to knock that $$$ of the price of the home. If it costs $10,000, knock off $12,000. This is what I'd do but in the real world, personally, who knows, maybe I'd run. (At least get an inspection to see how fast you should run should you decide to run.)
My best to ya and hope this helps.
Regina: Have you any Professional Advice on this one???