Buying Used Outboard

[F-Walleye]

What are some things to look for or just a general check list. I found a engine I would like to purchase. The seller says the compression is good and ran well when last used. He sold the boat it was on but not the engine. I can't really run it now this time of year on the water so I just don't want to make a mistake or worse yet get stuck on the river. Also how would I protect myself if the engine turns out to be crap?

Any ideas?

[waterfoul]

Check the compression yourself
Insist on running it... just need to put it on a stand and put the muffs on
Check the lower unit fluid if you can