First off Welcome to Pf - and a stab in the dark from me would be £1200 if it needs a respray hasnt got an MOT.

Just look out for all the usual suspects when buying an older car, rust on the floor under the carpets, rear chassis rails, rot under the body kit etc etc.

Go with the intention of NOT buying it and then find things that make you WANT to buy it, thats a better way round of looking at older cars.

Good Luck - and if you get it, get some pictures up