Need advice on Year 2000Volvo S40

[Msmith]

We are looking at this car for my daughter. It has over 120,000 miles. A year ago the owner put in a set of 4 new tires and a new battery. The asking price is $3000.

Couple things I am worry about:

1. The orange check engine light is on all the time.

2. I don't know if the timing belt is ever being replaced. What is the cost for replacing that? I don't want to find out in a hard way.

Thank you ahead for your insight.