Did you get a quote for how much the repairs will be? Have you priced this boat on line (yachtworld) to ensure purchase price plus repairs is fair. With 700 hours and being used to pull wake boarders I would have a mechanic perform a health inspection of the engine; compression test, oil analysis,...
Is it a fresh or salt water boat?
1997 Silverton 362, 7.4 Crusaders
1997 2400 SCR, 5.7 Vortec / Bravo 2