1976 Mercury 110 9.8 electric outboard

So, I may have finally found my motor but I have a few questions and I'm hopeful someone can assist. It's a 1976 Mercury 110 9.8 electric outboard and I included a few pics below. Now, I've never come across an electric version of this motor until this one. All I know is that it only has had one owner and looks to be in really, really good cosmetic condition for it's age.

Now, I still need to check the cylinder compression and hear it run but can anyone offer any other advice or tips on what I should look for? For example, the electric ignition. Is there anything I should be looking for with regards to this? He has told me that he runs "a 30-1 generous oil mixture" and that the cylinders should be high. I'll be the judge once I test it but I'm not sure if that oil mix is right or not.

I have a couple weeks as he's holding it for me while I'm away on business and the holidays. I'm hoping someone here has this motor and can speak from experience. Should I pull the trigger on this one?

I would just look over the wiring and make sure nothing is cracked or corroded. I have a 73' Merc 20HP that Ive had some wiring problems with but nothing terrible. As long as he will run it for you and the cylinders have good compression then you should be ok. These Mercs were built to run for a long time.

It does look really nice cosmetically. If it's truly a one owner and he's run it on 30/1 all it's life instead of 50/1, it should be in pretty good shape. What is he asking for it and have you looked at craigslist or any other sources to see what similar motors have sold for in your area recently?

I have looked on CL and I have nothing to compare it too with that age Mercury motor with an electric ignition. I've been looking on CL for years and this is a first I've ever seen one. He's asking $550.

I don't know what the market is like in OH, but that wouldn't be a bad price for that motor around here. Assuming that it's running and ready to take to the lake. Just as a comparison of sort, I sold this 1975 20hp elec start a year and a half ago for $650.