Purchasing BMW x5 4.8i from Private Party
So here is the deal. I am purchasing a vehicle that was originally CPO'd when the seller bought it. I had a local BMW dealership do the inspection they normally do to certify a BMW and the vehicle checked out very well with no concerns.
I am curious how to go about the next part. The title is in the banks hands currently and shows a lein. My bank got his payoff information and have made me a check out in my name, his name and the lein holding banks name. For the bank to release the title lein free can take two weeks.
How can I go about taking over ownership of the vehicle? Some form of bill of sale? Any help would be greatly appreciated. Frankly I can't wait two weeks since we are down to only 1 car and the owner is 6 hours away.