If it is indeed a yellow/white version of a 982, and the 60" deck is any good, $700 is cheap. A good 982 with any options can sell for more than 3 times that, and a good used 60" deck will sell for $250- $400. Now with out seeing this tractor or knowing the condition, and not knowing how much it is like a 982 (other than they are both called Super Garden Tractors), I cannot say what it is worth, but if it runs, and drives, and mow's, $700 sounds very good...... and cheap. But you look at it and make your own call. I collect IH built Cub Cadets, and a 982 is the only red one (of the 82 series) that I would like to have.
I just checked this site, http://ihregistry.com/ref/mtdref.html
, and it says the tractor is basically a 982 (Factory # 14X982), has a 19.9 HP Onan, hydro drive, hydraulic lift, front hydro ports or outlets, and could be had with a 38", 44", or 50" deck, and probably the 60" (usually made by Haban I believe).