Here’s my translation

Alan

Sakna þeir nú vinar í stað ok taka nú ráðagerðir sínar, ok sótti Bósi föður sinn at ráðum, en hann sagði, at þeir mundu verða of seinir, ef þeir söfnuðu liði miklu, ok því sagði hann, at þeir mundu heldr ná konungsdóttur með djúpsettum ráðum ok snörum atburðum, ok var nú þetta ráðit, at þeir bjuggu eitt skip ok á þrjá tigi manna. 
They now feel-the-loss-of (their) friend (gen sg, ie Hleiðr) (ie, they see the bird is flown, see under vinr, CV Usages) and take now their taking-of-council (ie review the situation), and Bósi sought his father (ie Þvari) for advice, but (and) he (ie Þvari) said, that they would be too late, if they gathered a large host, and therefore (því) he said, that they would rather get the king’s-daughter with intricate (lit: deep-set) plans and swift (snarr, Z1) attacks (or actions, plural), and this was now decided, (so) that they prepared (past tense) one ship and thirty (lit: three tens of) men on (it).

Smiðr skyldi nú fara með þeim ok hafa alla forsögn um þeira ferð. 
Smiðr (ie Þvari´s eldest-son and Bósi´s brother) should now journey with them and have complete superintendence over their journey.

Karl lagði þeim mörg ráð ok þau Busla. 
(The) old-man-commoner (ie Þvari) laid-out for them many plans and-also they, Busla (and presumably Smiðr, nominative case)

Sigldu þeir nú, þegar þeir váru búnir. 
They sailed now, as-soon-as they were ready.

Smiðr hafði byr ávallt, þá er hann stýrði, ok varð þeira ferð með meira flýti en líkendi mundi á þykkja, ok kómu þeir nú vánum bráðara austr á Glæsivöllu ok lögðu skipi sínu undir einn eyðiskóg. 
Smiðr had fair-wind always, when he steered, and their journey happened with greater speed than would-be-thought likely for (it), and they came now sooner than expected (lit: expectations, ván) east to Glæsisvellir and stood their ship in towards a certain wild-wood.

Smiðr hafi hulinshjálm yfir skipi þeira.
Smiðr has a ‘hiding-helmet’ (‘cone of invisibility’) over their ship.

Þeir gengu á land upp Herrauðr ok Bósi. 
They, Herrauðr and Bósi went up onto land (ie ashore).

Þeir kómu at húsabæ litlum ok kyrfiligum. 
They came to a little and humble farmstead.

Þar bjó karl ok kerling. 
There lived an old-man and old-woman.

Þau áttu dóttur væna ok vel kunnandi. 
They had a beautiful daughter and fully knowing (very smart).

Bóndi bauð þeim nætrgreiða; þat þágu þeir. 
(The) farmer offered them accommodation-for-the-night; they accepted that.

Þar váru góð hýbýli.
A good household was (ie existed, gram plural) there

Þeim var unninn góðr beini, ok váru tekin upp borð ok gefit mungát at drekka. 
Good hospitality was shown (vinna, Z3) to them, and (the) tables (plural) was set up and small-beer (was) given to drink.

Bóndi var fálátr ok óspurull. 
(The) farmer was reserved and uninquisitive (úspurall).

Bóndadóttir var þar mannúðigust, ok skenkti hún gestum. 
(The) farmer’s-daughter was there most-affable, and she served (drinks) for (the) guests.

Bósi var glaðkátr ok gerði henni smáglingrur; hún gerði honum ok svá í móti.
Bósi was merrily-cheerful (glaðr + kátr)  and made her small-playful-gestures (flirtations?, smá + glingr, CV); she made (them) to him also in return.

Um kveldit var þeim fylgt at sofa, en þegar at ljós var slokit, þá kom Bögu-Bósi þar, sem bóndadóttir lá, ok lyfti klæði af henni. 
During the-evening (it) was guided for them to sleep (ie they were shown to their sleeping quarters). But as-soon-as (the) light was extinguished, then Bögu-Bósi came there, where (the) farmer’s-daughter lay, and lifted (the) (bed-) clothes from her.

Hún spurði, hvat þar væri, en Bögu-Bósi sagði til sín.
She asked, who-or-what (neut = masc or fem) was there, but (and) Bögu-Bosi gave his name (lit: said in-regard to himself)

"Hvat viltu hingat?" sagði hún.
“What do-you-want hither?” she said.

"Ek vil brynna fola mínum í vínkeldu þinni," sagði hann.
“I want to water my foal (MnI meaning ‘young-stallion’ seems more apt) in your wine-well,” he said.

"Mun þat hægt vera, maðr minn?" sagði hún; "eigi er hann vanr þvílíkum brunnhúsum, sem ek hefi."
“Will that be easy, person (man) of mine?” she said; “he is not accustomed (vanr, Z1)to such well-housings (plumbing), as I have.”

"Ek skal leiða hann at fram," sagði hann, "ok hrinda honum á kaf, ef hann vill eigi öðruvísi drekka."
“I shall lead him forward to (it),” he said, “and push him into (the) water (lit: into a dive), if he otherwise wants not to drink.”

"Hvar er folinn þinn, hjartavinrinn minn?" sagði hún.
“Where is your young-stallion, (the) heart’s-friend of mine (ie my dear-friend)?” she said.

"Á millum fóta mér, ástin mín," kvað hann, "ok tak þú á honum ok þó kyrrt, því at hann er mjök styggr."
“Between my legs, (the) love of my (ie my love), “ he declared, “and touch (-you) him (taka á e-u, Z12) and nevertheless gently (kyrr, Z2), because he is very shy.”