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There's an article in Good Old Boat, recent issue, on changing chainplates, not a job to put off, for sure not to leave the dock with undone.
Myself I'd be removing a big chunk of the material around it, make sure its thoroughly dried out, and re-epoxy whatever super thick after its fixed/replaced checked out. The teak might be good, might not, nows the time to check. Ifnot replace with some white oak.
I agree with Paul, the surveyor should have explained it more, but if he said its a good boat cut some slack until you find out otherwise. This is another excellent example of why the buyer needs to be by the surveyor taking notes with a surveyors golden words . Agree beforehand for him to take the time to explain, its the best money spent. If they dont want to give explanations find another. But, dont expect them to do the explaining without extra payment, thats not fair either. They bill for their time and work, extra is worth extra.
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