Kudos to the seller for being honest!
It might be a good starter trailer for someone, but as the seller indicates, it needs help.
There is a lot of water damage due to improper sealing of the wood surfaces, and one should suspect, the joints as well.
Could be a deal if one didn't mind taking it apart and refinishing the wood.
Rob
Waiting for "someday" will leave you on your deathbed wondering why you didn't just rearrange your priorities and enjoy the time you had, instead of waiting for a "better" time to come along...