BMW Repair: 97 BMW 318i ABS and ASC Lights On, faulty computer, bmw 318i

Question
It's weird though because now the light is off. When I started the car in the morning it was still there but when i started moving and made a left turn by my street it went away.  It happened twice already. Now the lights are off but it might come back again. What do you think that is?
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Followup To
Question -
I just bought my car a few days ago. My ABS and ASC lights just turned on. What do you think is the problem? If I had it checked and fix how much do you think it would cost me?
Answer -
I can't tell you how much it will cost to fix it because it could be a number of things. Example, Brakes need to be done, faulty wiring, faulty computer etc...Start  with having your brakes checked and go from there.  Tell me how it turns out.

Answer
have the wheels pulled off and check the wire that goes to the brake pads and make sure they are conected to the brake pads securly.  If they are not then re connect them.  if they are not connected right then it will make your light come on and what that wire does is tell you when your brakes need to be changed.