350 case-leaking final drive

Am looking at a 350 crawler loader. looks ok but there is oil on the outside of left rear sprocket. hasn't been used for years.

Is this a sign of a major problem in final drive or just a seal.

If you tighten the nut on the outside of sprocket will it snug up the leaking seal?

doesn't seem to turn as well/sharp on the same side as leak.
 
I am not sure if its the same as 450's but there is two metal discs that form a seal that attach the final drive to the chassis i think........mine leaked similarly and that was the repair. I had to split the track, remove the sprocket, remove final drive, install new seals and put back together.
 

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