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Evening guys! I live in Alberta Canada

I'm looking at purchasing my first bike and don't mind working on a project for the summer. The bike I'm currently looking at is the 79 honda cx500, the seller in the ad states that it was his project bike and had ridden it last year, however upon riding the bike this spring the engine had shut off, as if the kill switch was engaged. He states that the electrical still works, and the starter is cranking. I haven't purchased the bike yet, i am going to be seeing the bike tomorrow afternoon.
I personally don't know too much about bikes but have some knowledge about mechanics in general.
I am going to attached the ad below as he does go into a bit more depth.
Your input and advice would be appreciated, please let me know if i can give you more information, I'm new to this so i may have forgotten somethings. If you have any advice about what i should be looking at specifically when i see the bike that would be great as well!

This is the ad of the aforementioned bike.
Kijiji: 79 honda cx500


Please view this ad:

79 honda cx500,

Price: $ 1,600
 

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At 40,000 km it is getting close to time for cam chain replacement. How to use a mirror to inspect the cam chain - Honda CX500, GL500, CX650, GL650 | MotoFaction
Check the date code on the tires. If they are more than five years old they are due for replacement no matter how good they look.
If you have a digital meter consider doing this test. How to check or test the stator and pickups on a CDI Honda CX500 | MotoFaction
More reading here. Honda CX500, CX650, GL500, GL650 Buying Guide
For a non-runner the price is high. For some reason the asking price of bikes seems to go up as parts are removed.
 

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Discussion Starter #3
At 40,000 km it is getting close to time for cam chain replacement. How to use a mirror to inspect the cam chain - Honda CX500, GL500, CX650, GL650 | MotoFaction
Check the date code on the tires. If they are more than five years old they are due for replacement no matter how good they look.
If you have a digital meter consider doing this test. How to check or test the stator and pickups on a CDI Honda CX500 | MotoFaction
More reading here. Honda CX500, CX650, GL500, GL650 Buying Guide
For a non-runner the price is high. For some reason the asking price of bikes seems to go up as parts are removed.
Thank you reclinedrelic, i appreciate the advice and guiding me to more readings. I felt a little out of my depth trying to figure out what i should be looking at and if the price was fair. I've noticed bikes with fewer parts are priced hire as well which is a bit frustrating at times.
I am hoping to give a counter offer tomorrow, hopefully with the buying guide you provided that will give me a fair estimate after taking a look at the bike.
Can't thank you enough!
 
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