Wet decks are one of the big reasons some boats are priced so cheaply! Owners are most often too lazy to remove hardwear and re-bed it properly and on a rotating schedule. The end result is that everywhere a screw or bolt goes through the deck, from cleats to stanchions to chain plates, water finds it's way into the decks core and begins to saturate it.
Deck cores, on many production boats, are either plywood or balsa wood sandwiched between two very thin layers of fiberglass. When deck fittings such as port lights, cleats, genoa tracks, stanchions or hatches are not re-sealed, or re-bedded properly, moisture finds it's way into the wooden deck core thus rotting it and causing serious structural problems if ignored for long enough. How do you find a boat like this? 1) It's been for sale for a very, very long time and not sold 2) It's the least expensive or close to the bottom in price for it's type or model
I have personally seen a number of stanchions ripped out of decks and cleats ripped right off the bows of boats due to wet cores over the years and it's not a pretty sight. I also knew a guy who needed to buy "shorter stays because they stretched". His stays had not stretched but rather his deck rotted and the mast was sinking into it thus bottoming out his turn buckles! Now that's a wet deck!
To repair a deck correctly is a very time consuming a laborious job that includes removal of the decks top skin, carving out the old rotted core, glassing in new core then re-laminating the deck side fiberglass. Once you have completed that process, in seven or eight separate locations, and trust me I've over simplified the process by a lot, you then need to re-gelcoat or Awlgrip the deck and then replace the non skid.
Buying a cheap boat is NOT CHEAP it's ill-informed. Listen to the seasoned vets on this and other boards when they say spending a little more up front for a boat in good condition pays off!!
Here's a deck re-core read it and then ask your self if saving a few bucks at the purchase is really worth it:
Deck re-core link: