Looks like some
water intrusion around the windows too.
Apart from the teak on the
deck, if the GRP is sandwich construction there could be
core rot, so check for sponginess/soft areas. It's not terminal, but it is a big job to fix.
Generally, some Taiwanese built boats of that era had black iron
tanks that should have been replaced by now.
It's a good looking
boat and if all the fix up stuff has been done, make a low offer, subject to
survey, and see what happens. Then get a
surveyor (not one recomended by the broker) that knows boats of this era to check it out.
You could end up with a damn nice boat.
Vic