Re: found an add for 1976 115hp johnson used five times
If the motor was really used only five times, it could be a great find. Whether or not the deal is good, is another thing.
First, the motor should look like it was used five times. The original paint should be in excellent condition, with little or no wear. The paint on the prop should be in top condition too.
As you look over the rest of the motor, look for signs that the story being provided is true. I would expect to see old, dried up grease in all of the locations were it is normally applied. I would also expect to see dust and other signs of a motor that has been sitting around. The spark plugs should be original, and should have no visible electrode wear. When you check the gearbox lube, you should see no signs of water intrusion. Look for tool marks on the engine in all locations - if therre are any, its a sign that the motor has been worked on - something that you would not expect with so little use.
Your seller may be perfectly honest, but not all are and you have to approach the sitation from that standpoint. If all checks out, offer a bid that reflects the reality of a motor that hasn't been run in years. You will have to rebuild the carbs, the fuel pump and the water pump, at a minimum. You will also have to remove all the old grease and re-lube the entire engine. In this area, you could have problems at every location that has a zerk fitting, because old grease tends to clog them up. I've actually had to take sections of engines apart, because I couldn't get any grease past a clog in a fitting or channel.
Other parts may need replacement too. As TD said, the fuel lines are an example. Spark plug wires are another possibility, as are any number of other things. Don't forget the basics either - be sure to check compression, etc.
Some folks are scared to death of old motors, but I have found them to be a great bargain, if approached from a reasonable perspective. The trick to buying and owning them is to pay an initial price that reflects true value. I think $1,500 is a bit much too and that is so, because you are going to sink some money into the motor before it ever hits the water. How much money that is depends on alot of things, starting with whether you will do the work or a marine dealer will. If you take it to the shop, you can expect to pay about $1,000 to start. As you use the motor and a few more issues come up, you will pay more. If you can do the work yourself, expect about a third to half that amount.
Let us know how you make out.