Well, unless things are very different in Louisville than the rest of the country, I'd suggest the seller realize that it's a buyer's market.
Our 32' Sedan is a 1989 with Chrysler 318's. My friend and I bought it in 2002, when it was 'only' 13 years old, half the age of the boat you are considering. We had a motivated and honest seller who was very open about every issue he felt was important regarding the boat. Note the key word: "felt".
We hired a top notch Marine Surveyor who spent 8 hours on and in the boat with us, including having it hauled and pressure washed for a hull inspection and also a sea trial run on the Potomac River to test operations while underway. His firm does not do engine surveys and we found a guy who we hope is no longer doing "surveys".
He ran compression tests on two of each of the engines' 8 cylinders. We knew from the sea trial that we couldn't get full rpm's but laid it off to tuning issues. Needless to say, one engine had two bad cylinders, which were not among those tested. So we ended up having two rebuilt engines installed two seasons later after spending countless hours bolting on new parts in the hope of getting the originals up to spec.
Don't get me wrong, I love this boat and have tons of faith in the 318's. But after 25 years, things wear out. The genset and engines are getting more and more difficult to find parts for.
Due to the nature of aluminum and water in the presence of electrical leaks, you MUST test for proper isolation and that can only be done when the boat is wet and that means not just splashed, but in the water for at least a week to allow everything to balance out.
Everyone on this site can tell horror stories and love stories about our Marinettes, but I personally would never consider buying one that has been out of the water for so long without having the best surveyors I could find AND a supportive seller. If you move forward with this, you can't find a better group of people to share your questions and experiences with, but enter the deal with your eyes open.
You didn't mention $$, but I assume you consider the asking price to be somewhat reasonable. Make your offer rigidly dependent upon satisfactory surveys and subsequent required repairs and enjoy your new boat.
JIM
Alexandria, VA
1989 32' Sedan
'Gammelby'
Friendship, MD