Sounds like the action screw is too long. Perhaps that is why the previous owner sold it?
If you are tightening it up with the bolt in it is probably hitting the bolt head.
Open the bolt, or better yet, remove the bolt. Now try tightening it. If it tightens more, look inside through the loading port and see if the bolt is protruding into the bolt head area.
If it is, see if the escutcheon is still in the stock (back then, likely a piece of black plastic inset into the wood of the stock from underneath...its what the bolt goes through on the bottom. Perhaps it fell out or was taken out at some point.
If everything is there, and the action screw head is still below the surface of the wood, you could use one or more washers as a temporary fix, or you could use a grinder or file and shorten the action screw until it is flush, or just a bit less than flush on the inside of the action.
To tighten the action into the stock, I usually stand the rifle on the butt, insert the action, and then , after making sure the barrel is centered and that the recoil lug is fully seated against the stock, tighten the action screws in 5 inch/pound increments, alternating front and rear until I am about 30 or 35 inch pounds on both screws.
The action screws are 1/4" x 28tpi.
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