That price is reasonable, if:
-A compression test shows all holes over 120psi
-The floor is reasonably solid (good for another 2-3 years?)
Any history or maintenance records on the boat? Winterization?...who did it?
If you are really interested, then pay $100 (down payment) and get a 'water test' out in the boat to make sure it doesn't leak and that it runs well. Yard tests are often too quick and light duty to prove anything.
The water test is a very fair request and base it upon a minor down payment so the seller doesn't think you are another 'tire kicker'.
Keep us posted.
BP
