The color is called "Palomino Firemist" and the interior looks like the original Antique Saddle Leather (both pluses for the car). The roof is an after-market job, probably done when it was re-painted, and it covered the original coach windows (this current one is not very attractive, in my opinion, but it may clean-up a bit, or benefit from applying a "wreath & crest" emblem on the sail panel, lower corner, towards the door). The bodyside moldings are aftermarket, applied in same place as the originals--but should have a small spear towards the front fender, and say "8.2 Litre" below. The front fender, above the cornering lamp, should have an "Eldorado" label in script, same as on the right side of trunk. Overall, the car looks very complete, and seems reasonably priced. The '71's and '72's were prone to a driver's side exhaust manifold crack, some thought due to build-up of heat, so often were repaired and dual exhausts installed (they were not a factory option). The car appears to have the proper ride height, and most original "automatic level control" suspensions failed, so usually they are converted to air shocks in the rear with a valve behind the fuel-filler license plate. The striping could probably be buffed off. Chrome looks good and should polish up more. Wheelcovers are correct for '72. Even the trunk lock crest cover is present (hopefully, he has the right hood ornament with his spare parts).
The horsepower was 400 in '70, and dropped to 365 in '71 and I think it remained very close to that for '72. The styling of the '71's and '72's is great--with the beveled trunk and rear bumper and fake side air scoops. Also, the only "filler" is behind the front bumper, not very visible, and avoids a big cost associated with restoring a '73 through '78 Eldorado--those cracking, body-colored, bumper fillers. In my opinion, this makes the '71's and '72's especially desirable, among the "big Eldorados." The cars are prone to wearing their CV boots, and the first thing to check regarding the acceleration issue would be the fuel pump--not a big expense. I have a 1971 Eldorado Convertible, and it is a really fun car to drive, with lots of power and a smooth ride. To me, if the mechanicals are not too bad, it sounds like a good deal. Here's a picture of my car: