The hole wasn't cut out. A big chunk of the lip is missing from both hulls. There is no trace of the former holes. It is almost as if someone hit the beach hard and the rudders didn't pop up or something. The gudgeons are removed from the transom too so there is a good chance that however they are attached (hull inserts, backing plate?) might also stripped, broken or missing. The hulls are otherwise in pretty good shape except the gel coat. I couldn't find any soft spots. I'm buying this boat for virtually nothing....guy just wants it out of his back yard. Just trying to figure out of I should try to put it back together, look for better hulls or just part it out.