From what you describe, they are already upside-down in their purchase. Now the question becomes, is it more reasonable to repair this one or look for another. My thoughts are this...
If it needs engine work, roll it for what you can get out of it. The radiator sounds to be the biggest fault. The cap needs to be seated properly to properly cool. New ones are cheap. Though I am not sure about your radiator itself. It sounds like you may need a shop to do some work. The compression numbers sound a little low but the main thing is to look for 10% difference at the most between the cylinders. If its been sitting for awhile, it may change after its been run. I'm gonna take a guess and say the engine has been run cold for most of its life. I would get a bore light and take a look inside the plug holes. You are looking for scratches, scored cylinder walls and pits. Carb kits are about 30 bucks and that work can be done in their garage.
Either way, the money paid exceeds the value of what its actually worth in good condition. Now its about how much do they want to put into it if any.
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Today's Featured Article - Women and Tractors - Tractor Engine Repair - by Teri Burkholder. One of the great things about working on a tractor engine with your other half is that you know what he is thinking of at all times and can anticipate his every move and his next thought of what he will do. With Ben, anyway, I can tell! He'll be busy working and I’m handing him tools and he says, "give me that..." and I’ve already got it in his hand or "hand me that....."and I’ve got the portable light right where he needed it placed to see. "Run in the house and get me a...."as I open th
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