Chasing another E39 M5

Its a 2000 M5 that was imported from North Carolina and converted/registered in Canada. The owner upgraded the steering and stereo/nav to add the 2003 bits.

This car looks more promising and the dude is asking $22k CAD. I’m going to get a PPI from a European shop before buying.

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I need your help with 3 things -

1. What documents do I need to check to make sure it was registered/converted to be road legal in Canada?

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2. What documents do I need from him to make sure he’s the owner and to transfer ownership in Ontario?

3. How do I do the money bit? I haven’t bought a car this expensive. Do I give him a deposit in exchange for a signed title and then exchange the car later with the remaining cash? Any other ideas?