I have a spot in my heart for Cheoy Lee, they are very pretty boats.
Be prepared for a huge project. At that price, I'm going to bet that the teak deck isn't in the best of shape. If memory serves, most CL decks are a thin teak over fiberglass, and joined with screws. If they aren't kept in top shape, bungs start popping out, screw heads get exposed, and water gets into the fiberglass' core. If that deck looks at all neglected, you could be faced with a complete recore, and either sticking with fiberglass or insalling a new teak deck.
If you haven't found it yet, there is a Cheoy Lee association website with some general information: Restoration Index for Cheoy Lees