busted pipe

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i looked at a house yesterday about 1440 sq ft..has been vacant for about a year..desent shape overall ..one big problem is that last winter the water meter was mistakinly turned on somehow and a pipe bursted underneath the house causing a pretty good leak.......about 1/3 of the houses wood floors are i am assumming warped underneath the carpet. It has caused them to be kinda lumpy i would say ....or have risen in some areas ....how bad is this COST wise? about 220sq ft of living room floor maybe sub floor is ruined...the halway and about half of two bedrooms ...probably about 500sq ft total sub floor and floor will need to be replaced ....Is this out of the ordinary ...or have any of you had to deal with this type of problem.....any suggestions or ideas would be appreciated..thanks

the tax value on this house is $91,000+ and they want 40k but are negotiable....so i think i could get it for around 32k -36k...mkt value i estimated to be around 92k -97k
does this sound like a decent deal even with the busted pipe issue[/img]