[gtron]

i recently did this.

i went to the bank with the buyer and had them give me a certified check for the total amount.

while at the bank, we both signed and made copies of a bill of sale.

additionally, while at the bank, we sealed the check in an envelope and dropped it in the box for bmw.

that way we both knew it was paid in full and both had a receipt for the transaction.

i also canceled my insurance that day and made sure they got their own.

it took bmw longer than 5 days to get the title so there were some txt msgs with the buyer to ensure them everything was still okay. after i received the title i signed it, sent it to them and never hard from them again.

as long as you're both covered then it's no issue.

as far as the dmv goes, as long as you notify them with X days of the date of sale then i don't think it matters.