I have a 370 Sedan. You'll definitely want diesel engines with this size. I've seen several 40' Sedans and I think they're great.
The most important thing you can do with a 90's era (or any for that matter) boat is an engine survey.
I bought a '92 with low hours. It ran great during the sea trial. No apparent leaks, plenty of power, no smoke, etc. I skipped the engine survey, which turned out to be stupid.
I just had a major overhaul done on the starboard engine: 6 new cylinders, 1 sleeve, new trubo, new raw water pump(s), new exhaust elbow. Also needed heavy maintenance/valve ajustments and all injectors tuned, replaced ALL hoses, clamps and belts on both engines. Big bucks... big mistake for a noobie.
I still love it though... even though I weep over the initial cost to get the boat the way I want it.
Good luck in your search.