I think $ 2200 is a little steep for a 95, but certainly not a bad deal... repainted frame or not it looks like a well maintained bike, it's obvious someone was proud of their KX500.
Like the other guys said tear down the carb, inspect ,clean and or repair then bench test it. The overflow should let all your fuel dump out if not clogged and working properly.
If it's loaded up really bad with fuel, plug up tranny breather hose and have a buddy help you flip bike over with sparkplug out. Handkick it over a while. Check behind ignition cover to see if fuel leaked thru the crankseal.