We are looking at buying a house that has been foreclosed, heating pipes froze over a winter as the house was not winterized. Had someone do a pressure check on the pipes to see how bad it is and in the dinning room there's a hole in the ceiling (looks like a mount for a fan) and water started to pour out of it from the pipe that runs across the ceiling to the upstairs baseboard heater.

If we were to buy the house, obviously holes would need to be cut into the ceiling to repair the pipe and then the Sheetrock would need to be repaired. Should we be concerned about mold or mildew after the problem pipes have been resolved?

I am not sure if there is insulation in between the ceiling and upstairs floor. This house is 5 years old, stick built.

Thanks in advance,