92 735i - Is it worth it?

So i found a 735 I for sale near my location and its quite a find body and interior are in really good condition for a 92 the problem is the engine. Seller says that he had a (shade tree mechanic) for those of you dont knwo a shade tree is just a guy that works on them but usually isnt licensed or anything....anyhoo. That mechanic tells him it was the head gaskets cause the car was overheating, he dissambled the head so wont be able to even hear it run. The asking price is 700 dollars. So my question is will there be a way for me to tell if the issue is worse than a head gasket. or should i just leave this one alone. Ive always wanted an E32...see my greeting... and im wondering if this is my chance to get one at a cheap inital price. I know it will requie money to get it running but is it worth it.
check out the ad for your self and let me know PLEASE!!!???
http://sanantonio.craigslist.org/cto/2429665214.html

I wouldn't risk it especially if you can't even hear it run. Or get yourself a good mechanic to go take a look at it with you.