I'm still using fabric that I bought in the mid-70s when I started quilting.
If she's offering at a good price and you like it - grab it.

I have some vintage fabrics from the 30's and 40's that I use in refurbishing vintage quilts. It's still in wonderful condition. As for fading along the fold lines, you are probably going to cut it up in pieces anyway and more than likely that part won't be used.

I would first give it the sniff test . Does it smell musty , if so it has some deterioration from moisture. I would also look closley at some of the fold lines of bolt fabric. It may have some signs of sun or lighting fade( even fluoresnant lights fade fabric). Also look for dirt at the selvage, a sign it was stored on the floor.
Use caution ! it could be a great deal or ....