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Like others have said the stator may be the biggest problem. Look under the left cover for 3 yellow wires that connect to 3 other yellow wires with a white plug, it is the connections inside the plug that get corroded and damage the stator, if it is a so. west bike, (it looks like you are in Ca?) they may never get corroded, if the plug is burnt looking but you still get 14+- volts at the battery the stator is fine just get rid of the white plug and splice the 3 wires to one another, doesn't matter how, the don't need to match up, they are all the same wire. that will cure the stator for ever, but it will probably need fresh tires, brake pads, fork seals, read end and motor/trans oil change. If you can't do the work yourself don't buy it. 3K is a fair price as long as everything works. doing the work yourself you can get away with $3-$400 in parts to shape it up.

Low mileage on old bikes is no problem, I buy alot of them for the fun of it, This week I sold a 78 wing with 12K miles on it and looked it, $2700. as long as the bike was stored inside it should be fine, especialy if it is a so. west vehicle. I also have a 97 BMW K1100LT I bought last sept, had 2500 orig miles, I replaced the esentials and put 3K on it since, runs like new. The BMW is for sale if the wing falls through, it is $6000 and ready for a coast to coaster.
 

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Forgot to mention the rad hoses will need to be changed along with the timing belts unless the owner has some record of when they were changed, I think the norm is 3 yrs or 30K miles, I changed them on my 78 and it looked like the factory originals were still in there and in good shape but if one breaks, kiss the engine goodby.
 

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The stator wire plug was a problem on 1000's, 1100's, 1200's AND 1500's, Again, the trouble is at the 3 yellow wire plug, easily inspected, as long as the plug stays clean there is no problem, if the plug and connectors are in good condition I will keep the plug intact and seal in dilectric grease, if yucky just splice the wires together and forgetabout the plug, the stator does not go bad by itself.
 

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One more time, the 1500 has the same stator plug issue as the 1000,1100,1200. If the plug is kept clean nottin happens.

On a positive note, the 1200's frame won't crack and the trans won't blow. Still wobbles but eaiser to fix.
 

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I guess we just scared Chris away, if your looking to spend 3K it may be a little hard to double it to 6K then on to 12 for an 1800. If Chris has only 3K to spend on a tourer it will be a 1200 or nuttin.

There is an 1100 loaded on Phoenix CL with 12K miles for $4000!
 
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