The balancing is almost always done off vehicle. Removing the wheels will not change anything. If you aren't feeling vibration as you drive, the balance should be fine. If you are feeling vibration, balance is one thing to check.

Alignment is up to you. Does it handle strangely when accelerating or braking, or jerk sideways when you hit a bump? The tires will tell most of this story - check the tires that have been on the vehicle. Measure the tread depth on the inner and outer edges. Is the wear uniform? No cupping or feathering?

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David.X5
2001 X5 4.4i Sport
SOLD! at 160k miles