They said it "might" need some fretwork. What they do is heat the neck up and clamp it to get it back into position. Seems to be a pretty routine thing.

It was second-hand when I got it so I don't know if it's a "quality" instrument or not - it seems like it's built pretty well, it's just got some age and wear and tear. I told them to first get it playable, and if it needed anything else, we'd go from there. :-)