It would be if you bought it as seasoned timber (3,4)
I believe the answer is:
raw deal
'it would be if you bought it' is the definition.
The definition suggests a singular noun which matches the answer.
'seasoned timber' is the wordplay.
'seasoned' becomes 'raw' (I can't justify this - if you can you should give a lot more credence to this answer).
'timber' becomes 'deal' (deal is a kind of timber).
'raw'+'deal'='RAW DEAL'
'as' acts as a link.
Can you help me to learn more?
(Other definitions for raw deal that I've seen before include "Unjust arrangement" , "'Harsh, unfair treatment (3,4)'" , "Unfair treatment for uncooked wood?" , "cruel treatment" , "Untreated wood" .)