Fill out a form, have a friend that's known you for some years (I forget exactly) vouch for you on the form, wait a week or so for background check, then get issued "purchase permits". You give one permit to the seller of a private sale for them to keep. The seller is covered, the buyer is vetted a bit more than a private sale would normally be vetted.
I believe they have done away with needing someone to vouch for you, otherwise, the process is still in place today.
http://www.wakegov.com/sheriff/division ... rmits.aspx
It is a misdemeanor to sell or otherwise dispose of a handgun without first obtaining a pistol permit from the recipient of the pistol.