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problem with rear brake valve 140-160 1968

I have recently replaced the front brake hoses and calipers in my 140. When I had the system bled however, the brakes obviously have air in the lines (the brake fluid level in the master cylinder goes up and down). I noticed that break fluid was coating the underside of the rear brake lines, and it looks like the origin is from the driver side proportioning valve. I tested the brakes without the car running to find that neither brake locks up, and I had been likely driving with no rear brakes for the past month. I would like to know what I should do, as I am selling the car and would like it to be fully functional for the buyer. (The brake valve is no longer available from Volvo or IPD).

Thanks,

Chris, 68 142S






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