Help with purchase - Engine report

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Sounds to me as though the owner of this boat is not very interested in machinery maintenance, even for some fairly simple fixes, and that is a huge red flag to me. It could mean major electrical and plumbing problems ahead for the next owner.
OK, now to your question. Volvo parts are expensive, as are Volvo certified mechanics.
Since you say you are not an experienced diesel mechanic, from the list it looks like there are some things you can handle and some you can't. But the level of maintenance leaves me to worry and if you are serious about this boat you are going to want the compression test, a sea trial (with a mechanic aboard) and have a diver check the prop, strut and shaft to see if there is any corrosion.
I'd go into this very carefully and remember there are no "full disclosure" requirements on a boat like there is on a house and you will have no recourse should things turn out to be worse than you expected. Find a good surveyor and go through the survey with him. You will learn a lot.
 
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