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Longevity of auto trans 700

Well first off, I'd be very suspicious about a car that old claiming to only have 48K km on it! It probably has a lot more miles. Even IF it was totally abused, and the transmission fluid was never changed, it wouldn't be shot after only 48K km! That's only about 28K miles, practically new!
Volvo transmissions are not crap by the way, my 90 244DL has 133K miles on it and still shifts smooth as silk and flies down the highway without problem, so don't believe that! I would expect the AW 70/71 series transmissions to last at least 200K miles or more if maintained properly. Best of luck to you, HT

90 244DL 133K
94 944T 91K
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