The photos can't tell much about the condition on a boat. If those teak deaks aren't leaking like a sieve now, they will be soon. I watch these local listings for fun(this one, CL 35 has been sitting for a year or so).

For the same money, I see what look like turn key boats, older glass but with fresh diesels, decent upgrades, in the 30'+ range. You can sail away for 10k(ready to go), so the project boats are not worth much today. This Cheoy Lee could end up costing you more.

Didn't used to be that way when values were higher.