Yes, you need to add all the "externals" to a long block engine. Any boat of that size and cost should have a full survey, both on land and in the water, before purchase. Otherwise, you may very well find yourself with a money pit or worse. You can expect some problems and needed repairs on a boat of that vintage and hour usage. That would be normal. The question is always, "What else is wrong?" If it passes survey, and you like it, go for it. It's not a speed boat, but is a comfortable cruiser. If it has a Volvo engine and drive, be careful. There was one type of Volvo drive for those years (check on the Sea Ray owners forum site for details) which was a disaster. Under no circumstances would I recommend you buy a boat with that drive. Other than that, check the NADA guide for value. Good luck. Hy