A few things I wish I knew...
Here's a few things I wish I knew:
1 Check that the transmission shifts well from 2nd to 3rd and 4th to 3rd. If not... could be bad transmission fluid or synchos... and transmission parts are hard to come by.
2 The steering is an obvious problem. Does it have an aftermarket track bar or any other aftermarket steering components? Has the suspension been abused? Be HONEST with your assesment on this! If you're not, you WILL pay for it!
3 Fuel pressure is another biggie as stated. If you can check the pressure, that is great but pressure at the lift pump can be misleading as to the fuel system status. They could've replaced the lift pump to mask a failing injector pump. If you can, take a code reader or stop into an auto parts store on the test drive and have them read the codes real quick. Could be empty but could be something there and it's free. The odds are the injector pump is good if it has good pressure after the lift pump, but you won't know for sure until you do a flow test for the injector pump.
4 Check the power steering pump assembly for leaks.
5 Check that the steering doesn't effect the brakes. Check that the clutch doesn't effect the brakes either... they share the vacuum from the vacuum pump.
6 Check the hub seals behind the wheels (all 4) for oil leaks.
7 If you're really gonna get technical, you can remove the airbox cover and tube to the turbo compressor and pull or try to shake the compressor wheel with your fingers to check for play.
That's all I can think of for now... I'm sure others will chime in! Really, an 02 with decent miles @ $7k is a fair price if it is in good condition.
Good luck!