Not crazy about him.
Neck is short, lacks muscling and ties on high. Not helped by the way he's stood up for the photo, but I do think it's a real concern. Appears to over at the knee. May also toe out in front, particularly the left. Very prominent wither and no muscling along the horse's topline; classic inverted TB conformation that will require some extra work to improve.
Does have a nice shoulder, which probably produces the huntery style movement you see.
I think the $1200. Price is based partly on his beautiful condition and coat; depending on your part of the country, there are probably better prospects out there for the money.