Gas Tank Leak & Fork Leak

[MiserMiner]

I just bought a '90 FJ1200 (44,000km). It was a few hours away and I had to take the guys word for the condition. Physically it looked in decent condition but once I got it home it did have a surprisingly strong petroleum smell. I thought this might be from the tire cleaner he seems to have put on.

Took it down the street today and noticed some dripping on the fairings when I got back. Took them off and sure enough, there's a leak in the tank. Now it makes sense why the paint in this area is kind of flaking, I thought it was just the mediocre paint job being rubbed off by the fairing. I have since wiped away a lot of the flaking paint, it was not this bare when I first got to it.



The tank is pretty rusty inside and it must finally be eating through in this spot.

A few questions:
1. Is this repairing this an option? And what would that likely cost for a shop? (or how many hours can I expect to be billed for)
2. I paid 2300 CAD (1750 USD) for the bike. It runs, drives, and looks to be in reasonably good shape otherwise. The guy seemed like a decent guy and I'm tempted to ask him for some money back as this is now not the bike I thought I was getting. I asked many times what the issues were and he did mention some, so my assumption is that he just didn't know about the gas leak. What would be an appropriate amount to ask for?
3. One of the front forks is leaking too. I got a SealMate and gave it a handful of passes, but there wasn't much gunk and I'm thinking it needs to be replaced. What can I expect to pay to have the fork seals done? I kind of what to ask him for money back for this too.

Honestly maybe if I had a garage I'd be more likely to give this a go, but part of me wants to see if he'll take it back. I don't want a project bike right now and was clear in our conversations that I was looking for something that "needs nothing" even if it is a bit old and well-used. I'm not saying he purposely deceived, but now that I know about these issues it changes the calculus.

Thoughts? I feel kind of overwhelmed

[FJmonkey]

The holes are small enough to use a tank sealing product like POR-15, then repaint. Not sure about the cost... Maybe ask for half the cost to repair the tank.

The fork seals are a normal wear item. Not too hard to change them.

[aviationfred]

Before you get to disheartened with your purchase. Try some JB Weld fuel tank putty. I had a very small fuel leak on my 2000 VFR.... almost in the same location as yours. I made sure the area was very clean and dry. I have a few thousand miles on it since with no leaks.

Fred