Dry rot in sill of house w/ fieldstone foundation

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Any help for this ignorant potential homeowner would be greatly appreciated! My husband and I would like to purchase a fixer-upper built about 1900. It has not been lived in for several years. It resides near a river; there is dry rot on one corner of the home. One sill needs to be replaced. Also the basement has about 5 feet of water to be drained. We need suggestions, opinions, options! Thank you in advance! Karen