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My advise:
Walk away. There are alot of other boats out there. If the surveyor sees a problem such as you are describing I would be very hesitant to buy the boat.
One comment though on these moisture readings. I read an article about a year ago on this topic and there are no moisture readers that are "calibrated" for fiberglass." They were never even intended to be used in fiberglass, but as far as detecting moisture in fiberglass boats this is the only "noninvasive" technique available. I think that different brands can give very different readings. The only 100% reliable techinque is actually getting a core of the area in question--a little hard in this case since my understanding is that it is most of the hull under the waterline. This is something the owner may want to do, since if you don''t buy the boat other surveyors will probably find the same potential problem and he is going to have a problem selling the boat.
I''m pretty sure the article on moisture detection in fiberglass boats was in one of BoatUS''s magazines they send out--you can always contact them and see if they had an article on this: www.boatus.com (they are an insurance company) Its an interesting topic.
Good luck
Rob ~~~~_/)~~~~
 
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