Good deal on the 540 (assuming it doesn't need anything big).
First thing's first -- check the fuse to be sure it's OK.
Do you hear the wiper motor come on when you turn on the wipers? If you do, the wiper arms have broken free of their ball joints, and will need to be fixed.
Does the wash function work? If no, it could be the wiper stalk/switch.
There is a relay which runs the wipers. It is in the box underneath the passenger side cabin air filter. If you do a search on "wiper double relay" here or at Bimmerfest, you should get lots of results. One thing to keep in mind is that 97s (at least mine) don't seem to have the "double" relay, just a plain relay.
If you go through all of these options, you might be into a new wiper motor. Expensive at the dealer, but there are lots of options on the net to save money.
Good luck with the car!
"All my life, I have searched for a car that feels a certain way....Powerful like a gorilla, yet soft and yielding like a Nerf ball. Now, at last, I have found it." -- Homer Simpson
"Gulp! How much is this monstrosity? Eighty thousand dollars?!? I'm ruined!" -- Herb Powell, former President and CEO, Powell Motors Corp.
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