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Buying an old motorbike without a V5 certificate?

I have seen an old motor bike for sale on ebay. The bike is a non runner and needs a complete restoration. The seller appears to be a car dealer and says that the bike has no V5 registration certificate. The seller appears genuine and has 99% feedback. The seller is willing to provide a receipt on payment. I can apparantly apply for a new V5 from the DVLA but what come back do I have if the bike is stolen or belongs to someone else?

Public Comments

1. If the dealer is genuine why has he not got the log book. Legally you should have a log book when buying a vehicle. You can write to the dvla and they will charge either £2.50 or £3.50 to check the vehicle history. Im not sure if it can be done over the phone with the dvla. You can ask for a check with the police as well (i think)
2. I never buy a vehicle without a V5 logbook. Why doesn't the seller pay £25 and apply for a replacement V5.