Hi NormK,
You will have no problem with obtaining the bearings and seals from your local bearing shop, any good established mower shop would have the gaskets and spark plug/points if needed for a Victa 125. I have unseized a few engines, if it's just the rings stuck in the bore there ok. If it's water in the crankcase just move on unless your desperate. You can't replace the larger conrod bearing without splitting the crank and that requires real effort.

Good luck and keep us informed, a lot of the views that you may get on a post are from non members so don't become disheartened :-)