I've seen mushrooms before on rotting stringers. Mildew is common when the boat is stored but not mushrooms. Just saying check carefully.

Thanks everyone. Great info. How do I check for transom rot, and how do you go about fixing it? It maybe just right there and need new seal around exhaust, etc., but how extensive and expensive could it get. Thanks.

My Gil/merc exhaust was doing the same thing. A year later they had internal cracks in the manifolds.

how about hiring a surveyer, someone to look at the boat for you? or a nearby board member. sounds like some potential issues that should be looked into before purchase!!

good luck