I have done exactly what Mith has suggested. I did punch-dimple the head and (very carefully) the seat and should tell you the seat materials are very hard and somewhat brittle. So, do so carefully or the seat can break. I found by putting the seat between two soft blocks of wood (in a vice) helped to eliminate breaking or deforming.
After carefully heating the area with a propane torch, and no more than 250-300° - I fished out the seat that spent the night in my freezer. I was also fortunate to have an old exhaust valve that fit perfectly in the valve guide. Putting the seat in the head cut area, and using the old valve as a insertion tool, I tapped gently and drove the seat into place.
Although the process seemed perfect, fit snuggly and the geometry looked precise It was, perhaps, .002 out of concentric. Which meant a few hours of coarse lapping (with the discarded valve) and fine lapping with the original valve. IMHO…you get one shot at trying this and if it doesn’t go smoothly or fit perfectly, I would surrender the job to a machine shop.
I still have the engine and it runs fine (a Tecumseh 10 HP industrial).