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The key to purchasing any NFA firearm is to have all your ducks lined up in a row so that you don't end up getting fried. And if the deal collapse for any reason, you will. Lose your $200 transfer fee and or be subject to restocking fees. The biggest hurdle is the police chiefs signature. You don't have any troubles with the law, pay your taxes and don't display aggressive behavior (like beat your wife, road rage, assault, battery), then there is nothing to fear about not getting approved. Everyone gets approved. Only time there are delays is when mistakes are made on the forms. Everything has to be correct.
Until the transaction is complete, the current owner MUST possess the firearm. Only other option is that a Class III dealer possesses the firearm, but it is locked in a case and in a vault and ONLY the owner of the firearm has a key to the case. But we are also getting into gray area with this interpretation.
Firearm sales are paid up front and prior to any paperwork. That is why it is so important to have all your ducks lined up.
Robert
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