Pete, thanks for the feedback. I'll try to answer your questions. There was no visible signs that there was a problem, other than the bolts and plates that hold the engine mounts to the stringers were badly rusted (this boat had spent 13 years in salt water, and the last 8 in fresh). The owner had replaced the bolts and painted the plates for the V-drives. He said he just didnt like the rusty look, but in hindsight, my guess is if he had those old bolts out he may have had some idea something wasnt right. The boat was in the water at the time. We had just completed that part of the survey which could be done in the water and were preparing to haul it for a bottom inspection when this issue was found. As far as a previous sinking, or 'calamity' as you so eloquently put it, I was not made aware of any, and there wasnt any sign of a problem, other than a red stain about 4 inches up in the far forward storage area under the v-berth. When asked about it he said it was from the anchor locker leaking when waves would come in the locker drain during rough water, and the stain was there when he bought the boat in 99. At the time the surveyor thought that was plausible, but now I have my doubts.
The surveyor had seen simlar catastrophic stringer problems in other boats, not carvers, and felt to have a yard do the repairs would cost about 25K. When you consider the boat was being sold for 26K, (it was listed for 29), the presnt owner must be feeling sick. Interestingly, within 6 hrs of us walking away, the broker had the boat's price changed on his web site.....now 24K....go figure.