If a 98 had a bad motor, it would be toast by now. I would not allow this to stop you.
Having said that, we advise all prospective buyers to get a pre purchase inspection from a Porsche Dealer. Also, run a car fax to check for title related issues.
Make sure the dealer uses a paint meter to check for any paint work and damage and have the dealer provide a warranty claims summary. Try to verify the service history on the car.
Re: values, check
www.kbb.com for Private party values and use
www.autotrader.com to establish comps.
Hope that helps.
Good luck!