Water damage on sole at base of mast

[bicyclewriter]

Newby here, looking at several boats. There's an IP380 that we like a lot, but it has what appears to be water damage on the sole where the mast penetrates through the sole. My assumption is that this means water has leaked down the mast in the past.

If it's just a little work on the sole to get it refinished I don't have a problem with that, but is this a common symptom of some more significant issue that I should be concerned about?

Also, I find myself focused on the IP380 and the IP40 as boats that feel like they fit us well. We like the layout of the 380 more, and would love the opinion of folks more experienced than myself on this question: Similarly priced and equipped, do folks believe one is a better boat than the other? What I read makes me believe the 380 will perform better, and we do like the layout. Not sure what disadvantages the 380 might have when compared to the 40.

Thanks in advance for insight and advice!