If i were you I'd run away from that deal as fast as you can.........but before you sever all ties with the owner, how about sending his/her phone number my way? I'm joking obviously, it sounds like a great deal.
However, since you'll be getting such a good deal you should be able to afford to hire a mechanic to check it over. I'm the sure owners story checks out, but you never know. Good luck with it.