First off, welcome to the forum!
I'm not at all familiar with Myford lathes (or the "market" in Australia), and don't know how $800 AUS ($587 US) relates. But this is what I'd want to check, given what I see in the photos.
1. Looks like the owner tried to convert the lathe from flat belt drive to v-belt (or maybe a round belt???) At least that's my best guess, seeing the grooves in two of the flat belt pulleys. But they don't look deep enough for a V belt and don't have beveled sides. You might want to check this very carefully.
2. The motor doesn't appear to have any kind of pulley at all. Is there one, just not pictured? It looks like it has a cord attached, but is there a switch? Any provision (switch) for reversing the rotation?
3. Looking at the picture, it appears the carriage is missing the crank used to move it along the ways. The shaft is visible below and to the left of the cross slide, but no handle (?). Parts of it may be there (hard to see), but you should definitely look into this.
4. The compound slide does not appear to have a crank. This might just be hidden because of the angle of the the photo, but check that it's there.
5. The tailstock doesn't include a chuck. If it's not included, you'll have to buy one, plus a suitable Morse taper adapter.
6. Be sure to check that the lathe comes with a full set of "change gears," so that you can cut a variety of threads.
You should probably check on parts availability for the lathe before you buy it.
PS - you mentioned a link, but I could not find one.
Hope it works out for you!