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The body looks like it's in good condition. (from pics) The owner seems to think it's relatively rust free, but I haven't seen it in person yet to confirm this.
Does $7000 seem like a good price? Also, are there any caveats particular to this year?
I think that's a pretty reasonable price if it's in decent condition (rust free frame, ok paint, interior that's not trashed, runs well). If your serious, it's probably worth spending $100 to have a mechanic go over it and tell you what's wrong. There could be a lot that isn't obvious. Good luck. :cheers:
Ditto what everyone else has said. I think the '76's are good cars - not particularly high powered or desirable which means you should be able to get it at a good price. Funky steering wheel that year (I like it though) and a bladder in the gas tank that tends to colapse over time causing the tank to hold less and less gas. Personally, unless you know for sure that any mods have have been done right, I would look for a car that is unmolested rather than one that has been heavily modified .