Buying From Reason:
The first and most necessary thing is that the vessel’s bottom be sound; the second, that the decks be tight; the third, that the spars are in good condition. If she is right in these three points, you can find out the rest by sailing her, and in that way only. Many a good boat is condemned for some trivial cause. She may have a leak which can be easily stopped; her sails may be poor, that can be remedied; or her gear worn out. If so, give the seller a chance to make good before breaking off negotiations. Tell him what you see or think is wrong, and let him have a chance to explain or make good. Don’t go away, as many do, and blackguard a boat because it is not just in the order or condition you expected to find it.