I have seen cheekpieces added to stocks which were practically indistinguishable from the original wood even on close examination. However, I wouldn't be too concerned about the stock at that price. That growth can always be surgically removed with a rasp.

I would be a little more concerned about the caliber, since the 7mm Remington Magnum (I assume that's what's being referred to) didn't appear until 1962, so the rifle may well be a conversion from 7X57 or 7X64 and there may be some feeding issues involved in changing an action meant for either of those rounds to a short magnum cartridge.

Unaltered rifles of that nature go for around $1200 in the States.