Thats the trouble with buying a used car and not being a mechanic. The repairs that the previous owner is running away from makes it not worth it to the normal car buyer. I buy cars like this all the time and make a very good profit repairing them. I sell them after I perform ALL of the things the car needs and even some it doesnt actually "need"
You said that you had work done on the Timing...WHat was done to the timing? You have no adjustment for traditional timing....so I am thinking something to do with the Timing belt? If this is tru why the need for the timing belt service? YOu really need to ask about this....
The bill estimate you are getting sounds high to me, so make sure you arent re-doing anything that has already been done. Many x if a mechanic actually does the timing belt they put a sticker on the engine with the date and mileage for the T-belt service. Look for this.
Front and rear brakes cost about $60 for parts alone... The T belt kit is about $225 for the t belt, front main seal, water pump and idler bearings etc....everything that you SHOULD replace. SO be careful of these high estimates....sounds like you should go to another shop for a re-assess... If you can keep the bill under 1200 it would be well worth it....but over 2x that amount....not so much..... then again it will prep your car for the next 75K miles or so I guess its value is in your eyes, not mine.