Is it worth it???

I've been looking for a bigger bike now that I learned to ride. This guy has a 92 yz 125 and is asking 700. The reason it's kind of low is he admited upfront that the tranny is totally screwed won't go into any gear @ all, but a just last year he had the entire motor rebuilt(and has the reciepts to prove it). I know a guy who can rebuild the tranny for around 500 including all the necessary parts. So considering that the cost to fix it is almost as much as the bike itself what should I offer him, or should I just forget about it.

hate to say it but it sounds like it could be a dissaster.... $1200 (700+500) isn't a good enough deal on a '92 to make it worth the hassle... you can likely find a '92 that works fine for $1200 if you look around enough...

If you know him, have him get it going through your buddy and THEN buy it from him.