This story is a beauty. Don't pay attention to the cheesy art cover.
Some of the characters are formula. And some are not. And the Story itself may seem to be formulaic-- but it's slightly skewed in a different direction. Some good Thought went into this script.
And as for the ghost. . .the beauty of this flick is how your feelings will shift from one direction to another. Stupidity, Pride and Viciousness all end up paying a satisfying price.
And the Horror is not in the Blood Spatters-- but the twisty discomfort that comes from watching torture. No-- nothing a la 'Saw', but uncomfortable just the same.
This movie isn't produced cheaply either. It's a satisfying Saturday Nite Flick. Get the popcorn ready!