I agree with the other comment of "what does he want to do with it?". Depending on how much money will be spent, and if its for a show restoration or to pull a hay rake, that can have a lot to do with it.
Goose makes some good points and things to check. The only thing I guess that tends to get expensive would be if you need to do any transmission bearing work. If there is one that you can take for a ride, see if it will stay in 5th. Sometimes if they were ground into high gear it pops out. Plenty of posts here about that and what is required to fix.
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Today's Featured Article - More Memories of a Field Service Engineer - by Brian Dye. Introduction: The author worked for one of the largest Ford tractor dealerships in England as a trouble-shooter on tractor engines, hydraulics and combine harvesters from 1963 to 1972. In 1972 he became a dealer manager and finally left the dealer net in 1975 to run his own electronic design and manufacturing company. [Editor] We live right in the middle of Norfolk. The dealership that I worked for sold Fordson Tractors from the 1920's and some of t
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