'92 is the first year for the new LT1 and it had a few bugs or differences. Nothing bad, just different.
It may be worth $8k but that's up to you.
Check where it parks for oil leaks. It's not uncommon for the intake and/or oil pan plug to leak a little. Check the rear end for leaks also.
At this age and mileage, it probably needs new hubs on all four wheels, brakes pads/rotors, hoses and belts. Fine out what the owners has done for service and see how much you may have to do. Plan on servicing everything (coolant, belt, hoses, brakes, etc.) if the owner has not done so recently.
The 92 was prone to fuel line hammer - a thunking noise that resonates through the car when it's cold. Doesn't hurt anything but it can be annoying. You will not notice it in the summer but it could show up next winter. There are fixes for it that make it mostly go away.
Check the headlights to see if they open and close together and that the motor stops running soon after reaching full open or full closed. If there a hitch in their movement or the motors keep running after the lights stop, the bushing will need to be replaced. The bushing in the gears are not expensive but can be a little bit of a pain to replace.
That's all I can think of at the momemt.