Bearings are not too hard to replace, and not too expensive. I redid my bearings (new bearings and races, new seals) and also the entire brake system (new surge actuator, new brake lines, new drum brakes, new lights and wiring) last summer. I was able to do all the work myself, and bought all the parts online. I'd say it cost me about $300 to $350 in parts. I also needed new tires, you may not. Mine had what I assume to be all the original parts from 1991. Don't know what this one costs, but I assume you have a 23 and need a trailer. If you need one, you need one - and I assume they are kind of few and far between. I would not necessarily reject this because of the brakes or bearings, if the price is fair. Check the actuator and brakes, so you can factor that in.