I paid £1950 for my 02 LC 86k totally standard, FSSH. I personally never look to buy already modified cars. As hypocritical as it sounds, my thought is 'if its modified, how can you guarantee the previous owner hasn't abused it?' Yes you may miss out on some bargains this way, but on the whole you'll get a nice base car that you can modify.
Sorry for the slight digression there - I'd take all the modified bits off and sell it as standard. Think of it like a house - the more its decorated toward a certain taste, the more niche the market becomes to sell it on.
Plus I'd dare say you'll get more selling the modifications seperately than as one package with the car.
It's 99% sure the engine has been ragged if it's been 'modded', we all do it, but hardly anyone would want to buy one....that's why we try to find the genuine "virgins", or why we strip them down of mods and sell them as "unmodified, unmolested original condition"