Rickenbacker Jetglo 4003 BT 1986

Hi guys, Just received this yesterday from an on-line dealer known for RIC's.
Paid a pretty penny for it and its absolutley beautiful. But I have a concern with fret ware but my real concern is what I saw when I removed the truss cover.
I know nothing of RIC truss rods but it looks like I'm out of turns on the truss. Does it look that way to you? I'm within my return window so I'm looking for advise as to:
1. it there an issue?
2. Can it be repaired?
How bad is this?
Thanks! Any help is appreciated!
DW

 

Hi guys, Thanks for the replies!
The frets are sizzling a bit, not horrible but it's there! (perfect word to describe it BTW!)
Yes, It's a two piece guard. I've never seen a truss system like that. So I would have never thought to look there The bass itself (for a 33 years old instrument is very classic looking, Stunning really! I'd love to keep it but I got a little scared about a re-fret and the possible damage to the neck binding it might cause.
But the truss freaked me out I'll dig deeper into and post new pic's tomorrow.)

 

Here's a link to the original auction on reverb:
Reverb
Also here is my e-mail to them and their reply:
my -e-mail:
Hi Joseph, The 86 RIC 4003 BT arrived yesterday and it really is a stunner. I really want to keep it but there are a couple of things that were not mentioned in the description.
1. The amount of fret wear, She's gonna need a fret job and that's pricey
2. and this is the one that scares me. I removed the truss cover and the truss appears to be out of turns. So further adjustment will not be possible which means it cannot be adjusted at all.
Please see pic's attached and please tell me what you think? I'd love to keep her but new truss rods and a fret job? That's IF the truss issue can be resolved. Again please let me know what you think.
Thanks!
Their response: (Received just now)
Hi James,

In this period in time, Rickenbacker put the truss rod adjustments at the base of the neck, and those are not the truss rod adjustments. This is why they did the split pickguard in this time. The bottom part for the electronics access, and the top part for the truss rod access.

I'm sorry, but I have to disagree with you on the frets, as there is a lot of fret left in my opinion, and I do not see a reason to get a refret. Maybe a fret dressing, but I would not do that unless the frets are giving you playing problems.

However, of course you are welcome to return the bass for a full refund if you are not happy with it.

Thanks,

Joseph

 

Thanks to All!
Great Helpful Info!