Great deal on "sunken" Catalina 27

Great deal on "sunken" Catalina 27

I ahve run across a 1989 Catalina 27 that shall we say is a little damp. The owner didn''t winterize properly and the boat took on water thru the H2O intake on the inboard diesel. The H2O froze and split the intake filter. The boat went down to the top of the deck flooding all electronics and engine. It was down in a VERY clean and clear lake for almost 48 hours. Since the engine has been checked out by a mechanic, run and pickled. The electronic board will need to be replaced as well as the cushions. Is this boat to be avoided. The ownener will take $10K for the boat with an aditional $4K at the end of 1 year if all is well with the boat. Any suggestions?
Signed,
Scepticly wet behind the ears