"A holding tank, unless it's leaking, is rarely if ever the source of odor INSIDE a boat. The most likely culprits are permeated
sanitation hoses and/or dirty bilges and sumps. If everything else about the boat passes muster, don't let odor be a deal breaker...it's the easiest and least expensive thing to correct. If the culprit is permeated
sanitation hoses, you can insist that the seller replace 'em as a condition of sale. You'll pro'bly have some residual odor to get rid of, but that's easy. To test the hoses for permeation: wet clean
rags in HOT water...wring 'em out...wrap 'em around a low spot in the
hose. When the rag has cooled, remove it and smell it...if you can smell the same odor on the rag (from what you say about the odor on the boat you may have to go outside to smell the rag), the
hose has permeated. Don't bother to test more than one section of one
hose...they should ALL be replacced, including the vent line. How old is the toilet? What's the make/model? Ask the seller when--if ever--it was rebuilt, or even just had a new joker valve. Depending on the make/model/age of the toilet, you may have another bargaining chip. A stinky boat can be a real downer, but again...don't let odor be a deal breaker...together we CAN fix that! Just make sure there's nothing ELSE wrong that's a whole lot more serious...so be sure to make any offer "subject to survey" and hire the toughest surveyor you can find."
http://forums.hunter.sailboatowners.com/showthread.php?p=425590&highlight=sanitation hose rags