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If RSgerry is out there I would like some advice from you too.
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aw shucks. now i'm blushing....
anyways, edxr6wgn is probably more mechanically minded than me, so his advice about the mechanicals is probably very good. having said that, it is still relatively cheap to pick up mechanical bits should something go wrong. i bought an unregistered van with lots of good mechanicals (worked 2 litre, big radiator, vented discs, quick rack, quick shift...and more i have yet to discover) for $1400.
certainly the advice about the rust problems is good. dont want to scare you, but edxr6wgn missed a couple of rust points. the usual spots in the wheel arches, but check the c pillar very carefully. open the boot and stick your hand up the inside of the pillar. i have seen cars that have the roof held up by bog.
best advice is pay someone reliable to check the car out for you. if you have an escort specialist in your state, and most states seem to have someone, go to them. if they charge $150 to have a really good look at the car, it could save you a lot of heartache or guarantee a lot of fun. of course, this advice pertains to all cars.
for extra advice, try here...
http://bne001w.webcentral.com.au/~wb165
these guys cmbined know everything there is to know about escorts. they may also know the car and be able to let you know if it is any good.
good luck. you will have a load of fun in it.