Most definitely. The only way the exterior skin of a transom (aluminum or fiberglass) cracks like that is if the wood core is rotten/compromised and allows the transom to flex to the point of failure.
In all likelihood the "great deal" you got on this boat is because the previous owner didn't want to fix the problem. I see in the picture the lower unit is blue and the rest of the engine is white. My guess is the owner struck a large object under water or ran aground and ruined the lower unit. In the process of the accident it broke the transom bracket and the transom itself. The transom core could have been rotten/weak before the accident or just broke as a result of the strike. Either way, as Faztbullet said, this needs repaired before the boat is seaworthy.
This can be repaired, but it will be a big effort on your part or you'll pay someone a lot of money. You have options for the transom core replacement:
1)
Marine Grade Plywood. Most transom cores are 1 1/2" thick and are typically made of two 3/4" pieces of marine grade plywood that are laminated together with epoxy
2)
Coosa Board. This is a glass fiber reinforced foamboard that can be substituted for plywood. The benefit is it will never rot!
3)
Sea Cast. There are several brands of pourable transom core material, but I only have direct experience with Sea Cast. When I used this stuff I loved it and it worked extremely well and can attest this material is extremely strong. This also has the benefit of never rotting. If your hull is aluminum they have a special additive to ensure the material adheres to the aluminum skin.
As for your transom brackets, finding a good used replacement is your best bet. Either scour marketplace and find someone selling a blown motor for cheap, or look at salvage businesses like
Tim's Outboard or
South Central Outboards that specialize in offering good used parts. Your best bet is to get a complete transom bracket with the trim/tilt unit and install that.
