Sounds like a good price...is the car a 5-speed or auto? There are loads of aftermarket parts available for the fox mustangs so finding bolt-on goodies will be easy. As far as the hatch, that's not a major concern. Although I've not experienced problems with the hatch, it's not a complicated system. Good luck with it and let me know what happens.
New Toy- Stone stock '88 T-bird Sport in need of some TLC
1988 Cougar XR-7- HO/T-5 conversion, cracked block prevented from reaching full potential.
RIP '88 T-Bird....firstname.lastname@example.org...best sleeper in So. Jersey, now it's taking a permanent dirt nap.