Can buyer move in house after closing but funds havent been wired to escrow yet?

Question

Closed on a Reo on Tues, thought we were done, but I just found out Weds, that the lender couldn't wire funds until Tues at the latest. Because she is the only closer right now. There has been a authorization of funds and there is a funding number. My realitor let us have the keys on Tues thinking the funds would be wired the next morning. Can we get in trouble for moving our stuff in. We don't have anywhere to go, and can't afford to rent a hotel since we already paid our down payment and closing costs. Also we've had the keys since Tues and went to check on the house today because it has been vandalised, and the lock box that holds the keys was gone off the door. Does anyone know what that might mean.

Answer 1

yeah, no, you cant move in until you've paid for the property.

Answer 2

What ever you do don't listen to drew she has no clue. The last thing you want now is a motel bill and bail to get out of jail.

Call the agent he should be able to find out in writting if you can move in but you need it in writting otherwise you move in and you are trespassing and could be arrested.

Be patient call the Realtor let him take the liability don't make that decision on your own. But the right thing is getting it in writting

Answer 3

I agree with the first one Ed Atun

Answer 4

Lockbox was off because the agent believes the sale has "closed".   You are not supposed to move in early before your funding check really really arrives.  I could tell you stories but i'll only tell you one.  A local Phoenix mortgage company had 10 funding checks arrive --- all insufficient funds.  They were bankrupt.  None of the 10 sales closed.  The people were glad that they hadn't moved in - even if they had to sleep in their cars.  They had to start over from scratch at another lender.

I have the feeling that you are already in the house as you write this.  If you are nice and you are honest, this will be ok. Don't unpack so you show the world that you understand that you don't own it.  What you are doing is protecting it from vandalism.  So good ahead and protect your investment.

Answer 5

Usually the keys are not given until it has funded.  There should not be a problem if it has closed and the realtor jumped the gun and handed out keys.  The bank probably won't know or care if you move in over the weekend prior to funding.