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Considering an '89 16 Valve 740 700 1989

I'm considering a 1989 740 16 Valve Sedan. The belts were done 25,000 miles ago. The sides of the engine are covered with oil residue. Could be old valve cover gaskets that leak. The down pipe from the manifold to the cat is like swiss cheese and makes a racket. The body is just about perfect as is the interior (CA car). Leather is good and dash only has a couple tiny cracks. The inside of the engine is immaculate - NO sludge AT ALL. Has all the other usual Volvo 740 issues: Red bulb relay has gone south, antenna doesn't retract, headliner needs replacement, connectors for ABS need a good cleaning and maybe a sensor replaced, heater control cable is loose, and the AC barely works. Price is fairmarket blue book (around $1,000). Should I buy it or run away?
--
D '90 745T 229k, '88 744GLE 129k, '96 328i, '73 911T 100k+






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