Usually what happens on these threads is people suggest what the own, and that is natural. For $700 you can net a decent 1911 that will be accurate and durable. We need more information though.
Are you going to carry the gun?
Will you compete with the gun?
Will it be a range gun only?
Are you a traditionalist? Do you drive a sedan or a pick-up truck? Does your automobile have a spoiler? Sounds nuts, I know, but a fellow's vehicle often is reflected in his 1911.
Kimber, Colt, Springfield and S&W all make good 1911s.
The best all around bargain is probably a Springfield. It has no firing pin safety, and the ILS is easily eliminated with a MSH swap. The price is right. I usually recommend a Springfield Mil-Spec to a new 1911 shooter. It has everything needed, is priced right, and can be modified into whatever the owner desires if they later change their mind. It does not have a skeletonized trigger or hammer. These can be added later if desired. A $500 Mil-Spec and $200 of ammo is better than a $700 Loaded and no ammo. The Springfield Loadeds have low profile sights, skeletonized parts, and a beavertail if that's what you want. One shoots as accurately as the other.
Colts are for a traditionalist, I think. Other guns will shoot as well, but for some folks, and I'm one of them, only a Colt will do. A Colt is like a Harley. If that is what you want, it's best to just go ahead and get it. Nothing else will measure up.
I'm not a Kimber fan, at least not of the Series II. Shy away from external extractors on Kimbers.
S&W makes a good 1911 too, and their external extractor works. Their small parts are Chip McCormick.