A little advice on this Formula purchase.
 

I have a deposit on a 1991 SR-1 29' with 156 hours and has been stored for 10 years. It is all stock with 502 engines in and I paid $17,500. for it. It is about a 8.5 condition. Any things I should be aware of when deciding if I should purchase it? Thanks for any help!

i'd buck up for survey. make sure hull is solid, and have motors checked. could save you alot of $$ in the long run !

How is the price in todays market

I think your price point is in line if it is solid and the engines hold good compression. beware that often times lack of use can be worse than normal use. Seals and rubber parts tend to crack and deteriorate with lack of exercise. I agree on the survey...well worth the money and may give you insight on an issue you may not have considered. It may also give you the opportunity to take another bite out of the apple before you pay out that hard earned money!!!

How good are 502 engines? I sure the hours are right at 155.

Wet transoms were an issue with these older Formulas.

Survey is definitely a no brainer here...Drain every bit of gas out of that tank before you fire those motors... You do not want any part of 10 year old gas (Hook up an alternative fuel source for testing the motors if you have too)... And to Sprink58s point about seals, it probably wouldn't hurt to run Seafoam in the NEW fuel and also pour some down the carbs... this stuff does a great job of lubricating seals and internal rubber parts.

The boat is clean as not being messed with or screwed around... all stock and factory. Engine compartment is clean. I plugged in the shore power and the charger is not working, anybody know how this systems works? At the price Im paying is this fair or is there a better model or year for the money?

I m sorry I dont want to come off sounding bad but,,,,,should you not done all that before you put a deposit on the boat??

Yes, but the deposit can be refunded after full inspection, but thanks for the thought on it. I'm just used to older Nordic single engine 26' and this is a jump for me. On a different point, the cockpits are small for the length, how do you guys like that for relaxing on the water? I like to drift down river and listen to music and enjoy a cold one?