I had a look at the boat today. Apparently the boat had a leak in the centerboard area and the boat sunk! Upon bringing the boat out of the water the owner glassed up the swing section and modified it to a daggerboard. The transom was cut out to help with draining. Apart for the board the boat was in pretty good condition.
Cards on the table opinion? That boat scares me. The previous owner took what was a good little boat and bastardized it. He took a sawz-all to the hull? Seriously? OK, you want cockpit drainage i get it! How about a rotary drill, some marine caulk and some PVC or other plastic tubing? Then he destroyed the usefulness of the cabin by splitting it in half. Another wrong answer to a relatively simple fix.
The guy over reacted to a one time problem. The boat is no longer class legal and like i said it scares me. Especially the hole in the transom. I wouldn't buy it. The good news is there are plenty of unmolested versions of this great boat available.