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Buying a stored boat
We bought our current boat after it had been in dry storage for 2 years, so I can give you a hint of the things that will need attention.
Fortunately, the diesel only had 300 hours on it and it had been professionally winterized, so no issues arose upon sea trial and our subsequent 1,400 mile delivery. If the engine is older or has had much more use, it may be more susceptible to the problems of long term storage (fuel contamination, brittle hoses, cooling system corrosion). A separate survey by a mechanic is strongly advised.
Our boat had been stored outside without cover. Thus, the running rigging was dirty and stiff. The following season I replaced all of it at a cost of about $1000.
Needless to say, the teak cockpit and trim were weathered and required chemical cleaning, brightening and new sealer, but there was no damage (teak is a wonderful wood).
The fiberglass hull and decks held up reasonably well, with just many hours of rubbing out required to restore the finish, but the gelcoat is still intact.
The deck hardware also held up fairly well, although finish on winches did suffer some and did not return to full luster. Winches definitely needed to be serviced to make them function properly.
Plastic in ports, hatches and lights suffered somewhat as well. I was able to restore to a fair degree with multiple treatments of Mirror Glaze, but I will probably be replacing horizontal panels not too far down the road.
The aluminum spars were oxidized and cleaned up decently, but not like new.
The main issue we had on the exterior was inthe cockpit where scuppers for the lazarette hatch tracks clogged with leaves and allowed the draining water to flow into the compartment. Water was landing on the plywood panels separating the lazarette from the aft cabins, causing water damage to the plyodd and the liner in the cabin. If the boat was stored outside and uncovered, make sure you check any drainage points to see if they clogged and determine if any backed up water caused damage.
As far as systems, the one that suffered most from storage was the fresh water system. Our boat has two heads with showers, 2 lavs in the guest cabins, and a galley, all served by 3 water tanks. Thus, there was a lot of potential for leaks caused by degraded antifreeze. I ended up replacing the pressure water pump, the main filter, the under galley sink filter, the pressure/temperature relief valve on the hot water tank, a section of hose supplying the hot water tank as well as repairing a crack in the hot water thermostat housing. I believe I still have a minor leak somewhere else in the system, but have not found it yet.
The electrical system was fine other than the batteries being shot (they were not removed because they are big group 6 monsters and not easy to handle). All the electronics fired upfine except for the LED display on the stereo being permanently dim. I did replace the cockpit speakers because the exposure had rotted out the cones and the cases were yellow. Oh yeah, and the compass had not been covered and it was totally devoid of fluid and the card was yellowed, so I had to replace it.
On the interior, the upholstery was fine. The boat was 9 years old, yet the fabric and foam were in great shape. The woodwork was fine, just in need of some cleaning/oiling.
Thus, our issues were sun damage to running rigging, water damage from clogged drains, winch deterioration, water system component leaks, and a fair amount of restoration of gelcoat, teak and metal finishes, with some surfaces not able to be brought back to a condition that might be normally acheivable if the boat had been constantly maintained. Fortunately the diesel proved to be no worse for its rest as we have put another 350 hours on it in 2 seasons with no problems.
My advice: Look at anything subject to sun exposure or holding water that could have frozen and buy the best survey and mechanic you can. Then negotiate your price adjustments with the seller and know that you will still find some things later, although hopefully minor. Best of luck.