2001 BMW 740IL Timing Chain Rep. Cost?

I'm looking at buying a BMW 740IL in my area. It has 148,000 miles on it. The guy is asking a good price for it because it needs engine work. He told me it's making a ticking noise from the engine bay. He took it to a mechanic and he said that it could be the timing chain. I originally wasn't going to buy anything but the 7 series are my favorites, especiallyy the E38's. If I can get this one at a decent price and get it fixed, I'll be very happy.

Are are the average costs to replace a Timing Chain. What other possiblities are there as well?

He told me it's like a ticking noise. He also described it almost like a knocking noise, but he hasn't driven it in 3 months.

I am mechanically inclined, but when it comes to jobs like these I'm not in for it.

Any suggestions?

Thanks!

Knocking is never a good thing, I have a timing problem and I am in over $1000 in just parts and tools and the problem is still kicking my butt. If it is a rattle you may have broken guide rails, knocking sounds like valves. I'm not an expert but unless you are willing to replace the engine or rebuild it is not worth it. I got a super great deal on my 2000 740i but it has been sitting for 3months and it's not because I have not worked on it, from what I have seen and heard the timing wil run you a couple thousand to fix. I am a DIYer so I am comfortable doing the work, but the special tool needed to do the timing will run you about $350- $420 + the parts. I would suggest getting one that is in better runnig shape, I promise you will be happier, you may have to spend a thousand or so more but it will be worth it. It is an awesome ride you will fall in love with it.