1. Definitely worse than it looks
Drag it into the workshop and check it out. That's "drag" because the wheels don't actually turn. This is what is known in restoration circles as "Not A Good Sign". We ignored it. Also "Not A Good Sign" is a fist-sized hole in the bottom of the petrol tank. We ignored this too. The seat seemed to be there.Well, it was for a few minutes before the picture was taken - then it crumbled into a heap of vinyl shards, flakes of rust and a curious yellow-coloured dust that was presumably once seat foam. We ignored these signs too. The restoration was going well already.