I sold my nsx to a guy from out of state a few years back.
He flew in, i picked him up at the airport. He had a cashiers check from his bank, we went to my local bank to verify it was good and have it wired to my out if state bank (USAA) which had the lien on the title. He verified the lien payoff amount with USAA before this .
We filled out the bill of sale and the shipper took the car with the bill of sale. my bank(the lienholder) released the title to him and he received it via fed ex.
Pretty simple overall.
If he didnt come in person, my bank would've dealt directly with his bank and i'd release the car to the shipper i suppose when my bank verified the funds. I'd imagine a third party like a dealer may hold the car during that period if it was arranged to release to shipper.