Look for cracks in the strakes below the engine compartment. The older straight bottom founds stress crack there and let water in. Also, as stated above, check for moisture , transom, bulkhead, stringers . Good boats. Are the hours legit?

Thanks Bill, the hours on the power is legit; hull hours I'm not sure of but it appears to be fairly clean for the year.

if it's a low hours trailered only boat it could be a good find! $40k could be a little strong but who knows .Took me 2+ years to sell my 10 meter and I took a WHOLE lot less than that for a very clean , honest 85mph boat.

Well honestly I've been looking since April for a clean Cafe, early TG or 38/40' Ligntning; this boat looks the part but you know how it goes. You cant tell anything until your physically on the boat. The current owner knows the previous owner so I'm trying like hell to get the actual build sheets for the motors.. The improvisational list of internals is great but kinda worth nothing w/out any documentation. Its a total crap shoot on the internsls.. I've got no problem paying for a accredited survey, so if it structurally checks out the only verification I'd really like to see is motor work receipts..

I've got a 1988 12 meter and absolutely love the boat! Clean solid boat when I purchased it 4 seasons ago. Powered by twin 509's with B&M blowers (650hp @ 4psi = 75mph), BAM transmissions & Konrad 540HP drives. Had a medium sized soft area on the bulkhead and about an 18" soft area on the starboard outer rear stringer. Replaced the entire bulkhead & both outer and inner stringers with Nidacore. Boat gets up on plain effortlessly, and is great in rivers, Long Island Sound, and the coastal Atlantic. Tons of room in the cabin and easily seats 6 comfortably. Wouldn't even consider using a 1/4 ton pickup to transport it, as boat and trailer are between 5-6 tons loaded. Whatever you pay plan on spending that again when you refresh the boat at some not too distant time [new heads, rebuild the transmissions, new drives, new oil, trans & p/s coolers, wiring, rebuild carbs ... you get the picture!] Better to do it up right once than to constantly be putting bandaids on things!

Thanks trueblue, I'd consider that an endorcement. I'm hoping with 59hrs motor rebuilds are not right around the corner.. Drives and trans were fresh ar that point too..