So I'm new to motorcycles and shopping for my first one. Looking for something inexpensive and I found an 85 454 LTD that looks great and is in my price range. I contacted the seller to ask questions and he was very accommodating. He got a hold of me last night to tell me that when he took the bike out he found a weak spot in the throttle and he's not sure if it's the old gas, stuck float or what but he's willing to drop the price.

My question is whether this could be a major issue or not?

 

Replacing that drive belt will be a major (expensive) issue. I would suggest something a few years newer just so you don't spend half your time and budget replacing old, cracked rubber and plastic parts. You don't want your first bike to be more frustration than enjoyment. But, don't let me dissuade you, if this particular ride is "talking to you..."

 

How many miles on the bike? I am not really sure if I understand what a throttle weak spot is, other than some hesitation issues maybe in the throttle response.

The LTD is a good little ride, nothing to brag about (not a powerhouse or the best or worse in getting to point B) and will meet most rider's needs in light cruising.

As mentioned by jeff, age does more damage to rubber components than you may thing imaginable. Are you mechanically inclined to replace basic stuff like belt, carb boots, flushing the brake lines, repack bearings? If not, then a "turn key ride" or as Jeff mentioned, a "newer ride" may be more your style for the time being.