Amazing price IF the night sights are still bright, if they are not that is just a GOOD price.
Anyways, a G27 was my very first firearm. Paid for it from an FFL when I was 20, and picked it up when I turned 21. Great shooter, VERY SNAPPY, unless you are a sniper with small pistols though, the peirce extensions are a MUST! The only add like 3/4 inch to the front of the magazine and none in the back. Plus they add one more round, and I've herd the new ones add two. Now a days, I only use it as a bug, on my ankle, or when I am around family who does not like carry, or while at church. Other than that I will OC/CC one of my big boys, usually my G21 or Ruger Security Six.
Like I said though amazing lil pistol, I love mine, it is the ONLY pistol I own I would NEVER sell, and that is purely for sentimental reasons probably because it is my first firearm. And you say it comes form a police agency, which means, they probably already have the peirce extension on it. Also police agencies only use the G27 as back-ups, and for undercover officers (if they choice to carry). Most agency's/PD's don't have under-covers, so it was most likely a back-up. Heck inspect it, it may have never even of been issued. Back-ups don't get used much and don't get shoot as much at the range either. If they put 500 rounds through their primary's they only put about 50-100 though their back-ups, most agency's only qualify every 3 months to 24 months, so you are looking at a decently low round count too. Just take a look at it, and if you have a Glock tool, pop the back pin and lift the inners to take a look and make sure everything looks clean, if you do not have a Glock tool, PM me and I will send you instructions on how to make one in less then two minutes for less then $0.50.
If you decide not to go through with this transaction, I am sure if you post that decision, you could get some PM's from people so they can, HINT HINT...