Re: Survey found corrosion in mast
There's really insufficient information to give a definitive answer. Is this a market priced vessel? or a fire sale? Rhetorical...
There's paint still covering the base, I can't tell when I blow up the photo how deep that black spot is. Looks like it's shedding metal ? I had some minor pitting and peeling paint on the base of my keel stepped mast and had the yard remove the paint up about 2 feet smooth, and epoxy paint the base. I didn't have anything like the crater you have there. And you can't see what's behind the collar.
In either case the mast needs to come down, the paint needs to come off for inspection. Then you'd have to be prepared for a minor fix..or a major adjustment to your rigging. Worst Case scenario a new mast.
A shortened mast affects everything, rigging, sails, boom height, etc...it's a ripple effect.
Catalina 30's must be a dime a dozen...This would probably send me looking for another boat.