So this got a little complicated.
The car I'm buying this weekend might be a bit complex to purchase and I hope you guys can help. I am in the process of purchasing an E60 M5 that is currently with the owner in California but is titled and registered in Ohio. To complicate things, I live in WA and am picking the car up on Friday and there is a lien holder (a bank in CA).
What recommendations do you guys have to make this a smooth process?
From my research:
1. I pay the buyer and we fill out the title and bill of sale with copies for both parties.
2. We both complete the WA Vehicle Title Application, Odometer Disclosure, Release of Interest,
3. We both signs the registration and title documents in front of the notary.
4. A notary at either the CA DMV or Bank notarizes the registration, the bill of sale and the title.
5. The seller pays the lien holder who then mails the clear title to the seller and reports it to Ohio BMV.
6. The seller mails the title sale portion and a copy of the bill of sale to the Ohio BMV reporting the official sale.
7. The Ohio BMV mails the clean title to the buyer (me).
8. I have the car inspected in WA, register it and pay the use tax.
Seems simple enough, right?
Let me know if there is anything recommendations you bunch of wizards have.
Many thanks in advance!