Help for a newbie 96 740il

I am in the market and have looked at two of them both had check engine lights on so i walked away from them.

I am looking at another tommorrow and want to pick your brains on what to check for specific to this model.

The current car is a 96 740il

it has 195k miles.
Clean title and clear.
No engine fault codes showing.
all the windows and locks work.
ac and heater works.
no engine knock
and no smoke.
straight body.

besides those what else should i look for? what is a good price for something similar to this?

thanks alot.

i just bought a bmw 95 740IL and im in deep crap now....what i would of done with my bemmer is check the PSI in the cylinders.....cause high milage...its a pain, but would of saved me....

i just bought a bmw 95 740IL and im in deep crap now....what i would of done with my bemmer is check the PSI in the cylinders.....cause high milage...its a pain, but would of saved me....
And the result of no research done into a car BEFORE you buy...which is really to bad as you ask 90% of 7-series owners, and they'll give you good reviews. I researched and test drove many BMW's (from 3- to 8-series) for about 8 months BEFORE I bought my current 750.

Not saying that they aren't expensive, as they can get quite heafty if you don't do your own mechanic work...if you don't do your own mechanic work, then I hope you have a lot of money, or you should buy a Honda...