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Sorry for the newbie type question. Looking to purchase a MY'01 M5. I've never purchased from a private party, but how does the transaction occur? What type of paper work is signed? Is the "Pink slip" really pink? How do I know that the pink slip that is given to me is legit? What kind of papers are filed at DMV? Thanks
 

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If you want to avoid the hassle and possibly add a CPO warranty, you might want to talk to local bmw dealers about brokering or processing the sale for a fee (or even a non-bmw dealer if you don't want to have the car CPO'd). The dealer would handle all of the paperwork including making sure you get clean title to the car. If you do a search you'll find some threads on the subject.
 
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