Look over the ribs carefully, a cracked rib while not a deal breaker, is a bad rib that will have to be replaced when the canoe is refurbished/restored. These can be very hard to see with varnish over them, but will show up when the varnish is stripped. Bright sunlight helps find them, inside a dark barn hides them.
Broken ribs are easy to see. Broken plank is easy and cheap to replace when you recanvas, unless it's alot of broken/rotted/warped plank.
Check to see if the seller sanded the hull smooth before installing canvas. If you can see alot of plank lines chances are he didn't. Again not a deal breaker, just something to haggle over.
I agree with Boatman53, check the stems for rot, plus rotted Old Town decks can be hard to fix and are expensive to buy.
Having said all that, you should see the crap I have come home with, oh boy. Hard to pass up