thunderoad02

I am currently looking at a 88 iroc convertible for sale. The owner is asking $3500. According to him, the transmission slips whie driving on cold days. After it warms up, about 10-15 minutes, it runs fine. He says he took it to a trans shop and they told him that the rubber seals in the transmission expand and that was the reason for the slipping. But he also said that the car has 105,000 miles and may eventually need a tran rebuild. Has anyone else heard about the rubber seals causing a slip? Is this car worth buying with this problem? How much should he come down in price with this problem? Thanks in advance!