Need some advice on a potential buy

There's a '86 VF500 for sale in my area.
The Bad:

• The fork seals float on the tubes.
• The right fork tube housing is gouged and needs replacing.
• The clutch fluid reservoir is held on w/ a hose clamp. (stripped)
• The front brake reservoir sight window is epoxied closed.
• There are no plastics except the front nose fairing.
• It's all painted flat spray-can black also.
• The seat is trashed but he includes a new cover.
• The clutch seems to slip but may be related to the fluid reservoir being trashed.

The Good:

• The bike starts right up w/ no choke and runs really well.
• It seems to have about the same power as my GS500.

Verdict:
The asking price is $1200 but I pointed out all the problems and may be able to get it for quite a bit less.. any idea how much to replace all that.
Are a new set of forks really $100 off ebay? am I looking at $400 to get the parts and do it myself or am I talking about $800. I have a standing offer of $700 on it right now and he's out of town till Monday. Does this sound reasonable. I'd like to sell my GS500 and put the money into this bike is I can make it a pretty decent ride. Gimme some input. maybe I should just wait for one in better condition. I'd like to spend less than $2000 total to get a nice Interceptor.. I've always wanted one

Thanks,
_oxygen_

 

Pass on it. I bought this one for $2500.00 and she is ready to ride anywhere.

 

Show him the KBB value. I picked up my 85 and the KBB RETAIL value was like $1300. That's from a dealer, in pristine shape. Depending on how cheap you can get the plastics the rest of it shouldn't be too terrible, assuming that the big things (engine, tranny) are in good shape. If you have to rebuild the carbs I'd say skip it - I've been searching for kits for weeks, they basically don't exist. If the carbs are good and you can get it for $700 and can do the work yourself that wouldn't be bad (this is again assuming the engine and tranny are fine), and you don't mind getting frustrated. But don't pay a dime over 7.

Like Yonan said though a better deal (less work) will come around if you have patience/time to wait.

 

No way, run to the hills and never look back.