I bought a 40 gallon hex tank and stand for $50. I knew the 40 gallon had a crack in it and was told it could be resealed. I bought it.
From talking to the fish store, they said it could be resealed, but no guarantee when the crack would spread after the sealing. The crack was on the bottom.
So I decided I didn't want to risk a water leak down the road, and sold the tank as a 40 gallon reptile tank for $40. I decided to order a new 40 gallon hex tank. Of course the wood finish I want is a custom order and takes longer to get in. I"m in no hurry, so I'm waiting.
All depends on if you want to risk another leak or not.
If it was a crack I would totally do the same thing! It is just a leak in the silicone. Also I bought it all for $65 and if I bought it new it would be almost $700 SO I am going to give it a try.

I found a few websites with detailed instructions. Thanks for the encouragement everyone. I will let you know how it turns out.