Can I sell a house without any recordings/title company involved?

[Quinn Jackson]

I've had tenants for 3 years on a lease option of my property.  They've paid 5k up front and have made all rent payments.  We're to the point of exercising the option now, but the title company wants a letter from my bank (I still have a mortgage), stating that they're ok with this wrap.  The bank is not too cooperative in this and ultimately may not provide that letter.  

Question is, I'm on good terms with the renters, is there a way to sell this on more of a handshake/privately recorded contract that would work out?  I owe about 42k @ 5% on the house for 6 more years, sales price/terms are 90k, 15 years @ 6%.  A title search and credit reports have been pulled, there are no judgments or liens.  Thanks for your help.