This was one of our primary options for purchase so temper my statements as a buyer who expects to resell at some point. Of course the primary reason is price.
1. blisters - if you plan to sell this, it will have to be fixed. Unless the next guy is willing to overlook it, highly unlikely.
2. Water damaged port side bulkhead. you have alread heard advice on this so not need to add. keep in mind the damage was all the way up onto the port side salon seating. Same as above if you leave it alone, expect the next buyer to look at you crosseyed.
3. The boat is bare. consider the installation of radio, AWI and autopilot. I believe it only had speed and depth. I am not sure where you will be sailing, you can decide what is necessary.
4. Standing rigging in great conditon (cleanest I have see in my searches); however with exception of genoa sheets, all running rigging should be replaced.
5. many gelcoat cracks; however thats part of a used boat. however I did not discover soft spots.
6. Sails showed wear; however they still had some stiffness for cruising. I believe they were original. I like to see used boats with parts replaced, I was not intrested in a lot of original equipment, simply means I will be changing it purely on my dime.
7. Just looked at a pic of the docklines and they should be replaced.
8. continous line furling. read up on this and expect to change to a single line furler.
9. Traveler makes contact with the dodger frame, not a big deal but, its been like that for a while and was never fixed. It has worn through a rivet and some of the frame.
I have a few more nit picking items however 1 and 2 are going to be the money. I am very handy, but I always estimate what it would cost me to have someone do the work. If you are getting a great deal on price, then it is a great boat. bulkheads will be about 200/ square foot and you would have to drop the mast to do it right so tack on about 500 bring it down and back up. strip and repair the blistered hull 125-150/ foot. Hope this help.