A possible yacht

I went to look at a possible yacht to buy in Waikawa. It was a bit overpriced for what it was, and not in the greatest condition. I’m looking for something that is Cat 1 or can be made Cat 1 without too much effort. This unfortunately isn’t quite there but it seems doable if the price came down quite a bit.

Basic specs:

Steel sloop, soft chined with fin keel. Cutter rigged, with hard dodger.
Ganley Tara 39 design, built by R Clauson in 1986.
LOA 39′, beam 12′, draft 6’6″, LWL: not sure.
Engine: 62hp GM 2/71 diesel. 1 alternator of 3 not working, but otherwise engine supposedly runs well. Cruises at 6-7kn, max of 8. Has some spare parts.
Fuel: 290l
Water: 630l
Rigging: Galvanised (alloy spars)
Sail wardrobe: Main (slab reefing), furling headsail, 1 & 2 genoa, staysail.
Berths: Supposedly 6, but I’m not sure that’s possible right now. V-berth is currently storage instead.
Head: marine flush with holding tank (size unknown)
Cooker: LPG 2 burner, grill and oven. Not working, but don’t know what’s wrong with it.
Galley: plain old kitchen sink, needs replacing with deep double basins.
Electronics: Coursemaster autopilot, VHF, Furuno radar (24 mile), Furuno GPS, Lawrence depth sounder.
Looks like it previously had SSB, but has been removed now (backstay has antenna built in it appears).
Ground tackle: 5 anchors, 2xchain + warp. Not all seen. Electric capstan.
Dinghy: 2.6m Aquapro RIB with 4hp Suzuki outboard
Safety: Lifering, danbuoy, 4 lifejackets, 2 electric and 1 manual bilge pump
Water: Hot and cold pressure water. Heated from engine and 240V, but not currently working.
Compressor based freezer.
Wood burner (mad).
Solar panel. No specs, but looked like maybe 80W-100W, and probably a bit degraded now.
Battery charger.
Petrol generator
Fenders, not inspected.
Topside hull condition: mostly superficial rust and rust stains
Bilge hull condition: could do with some maintenance
Interior: Very basic and ugly and could do with some work
Not sure what the box under the solar panel contained (aft deck). It couldn’t be opened. Maybe an old small liferaft?
Previously NZ registered ship.

To get to Cat 1, I figure at least the following would be needed:

A fair bit of general maintenance and rust treatment, etc. A few deck fittings might need replacing.
Sails: Probably could do with a new main, and use current as a spare. New storm trysail.
Hull: Needs survey (+ultrasonics) to find out if this is okay or not. May need new surfacing and antifoul, new sacrificials, etc.
Stanchions/lifelines may need work.
New fire extinguishers.
Engine compartment ventilation improvements.
Smoke, CO, O₂ detectors.
SSB, plus emergency antenna.
Liferaft.
Offshore first aid kit.
New EPIRB.
WeFax.
Emergency tiller.
Sea anchor/drogue.
Tool kit replacements, sail repair kit.
Non-skid on decks may need to added in many places and replaced in some existing places.
Low quality charging electronics needs replacing. Batteries and solar panel probably need replacing now as a result.
2+ harnesses and tethers. I suspect existing life jackets would need replacing too.
Grab bag, new pyros, etc.
Should really have AIS-B but not required.
Fog horn.
Needs additional bilge pumps to meet Cat 1.
Radar reflector.
New jack lines.
May need new bosuns chair.
Couldn’t see plugs for through-hulls, so would probably need to get some made up.
Galv rigging mostly seemed okay, but I couldn’t see it all, and some might need replacing.
Some additional handrails and supports in cabins.
Lee cloths (and attachment points) seemed non existent and may need to be installed.
Probably new anchor chain.
Oven needs to be fixed.
Alternator needs to be replaced.
AC heating needs repairs.
Realistically, probably needs wind vane or similar self steering added.
Probably should also have a wind generator/turbine for DC.
Need to get existing papers, documentation, if it still exists.
Re-registration.