My 90 sedan doesn't have any rust and I live on a costal inlet where some salt is used on the roads. At 217K, I would take a look at the steering, suspension,
tranny and engine seals, H2O pump and T-belt. Remember, Volvos can go forever, but the moving mechanics of the car require items to be repaired or replaced in a timely manor. Things do wear out, however, that being said, Volvos are one of the most user friendly cars for the home mechanic. I'd suggest you get a Volvo service schedule to ascertain "just whats been done on schedule" to this car. $1200 is a good deal for a nice body, but you could easily stick a couple of grand into parts if you have to bring back up to standards. If you buy the car and it turns out to be a hanger queen, you can always part it out and recoup the $1200.