Submerged F/G - repairable?

Hi all,

This is my first post to this forum. I have not yet become a boat owner, but the time is closing in fast. I've been looking for a renovation object, something that will keep me busy for a few years forward, and I came across this very badly kept Silverton 362 from 1995. It's basically been laid up for a couple of years in the sun, with no protection whatsoever. What's worse is that rain has seeped into the boat and filled up a rather large part of the bottom hull, just below the floor planks. This has been going on for quite awhile... the "caretaker" told me that he usually empties it out after a heavy rain.. but since the water was still there when I came to look at it, I doubt this ever got done. Good intentions that never got done I figure...

My question to all you experts in the know... is a hull that has had this kind of damage worth resurrecting? As far as I know, this particular Silverton have a solid fiberglass/composite hull... not cored. Has water seeped into the fiberglass and caused structural damage? Perhaps the wood has been damaged inside too?

I'm trying to get hold of a surveyor to go check it out, but wanted to hear any feedback from the forum first... perhaps someone been in the same situation and gone through a major hull repair as might be necessary here. I'm prepared to redo the gelcoat and repaint... but if there is major structural damage I'm in over my head.

I understand that pictures can only say so much... but any ideas or suggestions would be great.

Thank you in advance,

Peter.

Ps. The two crusader engines were taken out of the boat and kept in a storage area.

Thank you all for your feedback, I appreciate it. I've decided to pass on this boat, even though my hands are itchy to restore it. With what I've read here, it is most likely that there is rot in the wood and the hull requires major work. I feel comfortable with fixing some glass cracks and applying a new gelcoat... but to replace stringers in a boat as big as this... that's too much of a risk with my skills. If I would ever get that job done, I'd freak every time I hit a wave in panic whether my structural work was properly done. Furthermore the electrical systems are done for, and would require complete rewiring, as well as every major and minor system in the boat. I couldn't see the conditions of the tanks, but I would take a gander that they are in the same sorry state as the rest of the ship.
The engines were taken out when the boat was laid up. As far as I understand it, one of them had a sized piston. My thinking at the time, when the adrenaline was clouding my judgement, was that I would re-power the boat with two truck diesels. It's fairly inexpensive to do that out here in Malaysia. Manual labour is also cheap, which was one of the main factors that made me start thinking of doing a major renovation like this.

Anyway, the search goes on I guess!

Thanks again,

Peter.

hehe, yeah they are converted / marinized by professionals

Yeah I'm tempted alright, but worried about what has gone on with the fiberglass while being under water for so long... even if it's rain water... rot must have started happening... and to fix structural damage is too scary for me. On the other hand, I don't know how Silverton built this hull, so perhaps I worry about things that aren't really a problem. I've been searching for schematics / blueprints or more detailed information but it's hard to find anything more indepth than that the hull is a a fiberglass composite...
The other big thing is spare parts out here in Malaysia. I doubt getting replacement tanks, instruments, wire harness (maybe this could be custum built tho). To purchase all these things which needs replacing would drive the cost up... and as NYCAP123 mentioned earlier, in the end it might not even be worth it.
As for the market out here... well I'd hardly call myself an expert.. but during my search for a good object to renovate, I've been surprised at how expensive boats are here, at least compared to the US (this page lists a few: http://my.apolloduck.com/).
As far as I understand, the government recently droppped the import duty on boats in a move to compete with Thailand (don't quote me on this, I could be misinformed!). Still, a new or new'ish 35" or bigger boat is not an option for me due to budget... besides, my main goal is to have a new weekend project.

Peter.