Vehicle won, seller does not have the V5

Hi,I won an auction for a motorbike last monday. The V5 was marked as present in the listing, but upon contacting the seller I was informed he was waiting for it to arrive from the DVLA. The story is he bought the bike off a friend who hadn't used it for a year. He has made it roadworthy and is selling it on, but no V5 yet. I have had it HPI checked by a friend in the motor trade and it comes up clean.He has promised to inform me when the V5 arrives but I've had no word yet after 10 days. Am I still obliged to complete the purchase?

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Orignal From: Vehicle won, seller does not have the V5