Further to John V's post above (62), it is my understanding (from older generation shipwrights) that welding plates onto riveted hulls can be fraught with danger and should be only undertaken by a very skilled boilermaker.
I would suspect that as the vessel is an old fishing boat an area at significant risk of corrosion would be under the fish hold (ice & salt being used to keep the catch fresh), which then drains & collects into the fish hold bilges, this is most likely the compartment bilges that have been concreted up and therefore very difficult to confirm the bottom plates condition, without removing the boat from the water, historically the forefoot / bottom of anchor chain lockers can be another problem area, as well as the area of hull that is just above and below the waterline.
Basically to ensure you know full well what you are getting into, as mentioned above, it would be best to get the vessel out of the water for a full hull survey, and also confirm if any specialist welding procedures & equipment (old school techniques) will be required to effect any repairs to riveted hull sections.