I know the Cat 27 well.
What exactly do you have?
A 20 year old Cat 27 in ready to go condition with everything you need can be purchased for about $15,000.
You got a (almost) free boat so the question is what exactly do you have.
Is the hull and deck sound? I'll give you a simple list. The numbers next to the items are what we paid or researched for a friends boat that is for sale.
Do you have standing rigging, mast,
Boom (500) Real
Engine (12,000 diesel, 3,000 outboard) (Guesses)
shaft and cutlass (2,000) Real
Running Rigging ($400 replaced ourself)
Chart Plotter (600)
Steering idler wheels ($500) (guess)
Grounding causing some damage (6,000) Insurance
A sail boat is composed of lots and lots of parts. Many if not most are required for safety or comfort. If you get a free boat and have to replace too many pieces it can cost more than a boat purchased in good condition.
If you love restoring something with sentimental value the rules are different.
By the way where are you going to slip your boat? How much will that cost.
Washing it down and getting it clean is the least of your worries. The real issue is what exactly do you own and what has to be done to it to make it usable.
PS: You need fenders, dock line, Life Jackets, horn, anchor, rode charts etc.
If your boat is in perfect structural condition but just soft stuff is rotted due to sitting on the hard you could spend easy $1,000 for just misc items and 2-3 thousand for cushions.
If you are a scrounger and do-it yourself you can get stuff cheap but that takes time and interest.
Last edited by davidpm; 09-23-2008 at 02:02 PM.