I was wondering if it is against the law to move in before the bank signs final paper.

Asked by Jj, Gilbet AZ Thu Nov 20, 2008

Here is what happened last Friday 11/20/08 we signed all closing papers and handed the escrow company our check. They said the bank had to sign 3 more papers but has a dead line of Wednesday (yesterday). Of course we do not have those papers back from them and we have everything scheduled and set to move this weekend. We have access to the vacant house so I was wondering of we have to wait until the bank gets back to us or if I could move my family in this weekend?

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Lucinda Tkach, , Phoenix, AZ
Thu Nov 20, 2008
Wait for the recording! Your agent or title should have walked you through this. If you dont have an agent, get in touch with a rep at title that will call you once it is recorded.

I wish your family well!

Windermere Central LLC
0 votes
Jan Pickering, Agent, Florence, AZ
Thu Nov 20, 2008
No! I am afraid you will just have to be patient a few more days. The home is not legally yours until all documents are signed by both parties and recordation has taken place. I am sure your realtor will be happy to advise you! Good luck! :)
Web Reference:  http://www.janpickering.com/
0 votes
Carlos Ramir…, Agent, Mesa, AZ
Thu Nov 20, 2008
Jj, In AZ close of escrow (COE) does not happen until the property is recorded. And for that to happen the bank needs to execute the title and sign other documents. One of the disadvantages of dealing with foreclosures is that everything is slower and less personal.

If you move into the property before COE that will be considered trespassing, and it can have serious consequences. Especially if something happens to the property or someone gets harmed.

The best person to advice you on this is your Realtor. Make sure that title records as soon as it gets the documents and you get informed as soon as that happens.

Good luck!
Web Reference:  http://www.SmartAZRealty.com
0 votes
Stew Keene, Agent, Scottsdale, AZ
Thu Nov 20, 2008
You need to contact the realtor or title company and ask if they have received the paperwork. You should not move in to the property of you don't have ownership of it. Ask the title company if the transfer of title to you has occurred and if it has recorded and funded.

Good Luck!

Stew Keene
Ph (480) 220-7491
Fax (866- 711 8573
Keller Williams - Scottsdale, AZ
2008-2009 Master of Real Estate award recipient
0 votes
Brian Bell, Agent, Las Vegas, NV
Thu Nov 20, 2008
Good afternoon,

It is technically illegal as you do not own the home until the property is recorded at the recorders office. If you did move in and hurt yourself the bank would be liable.
Web Reference:  http://www.bellhomesaz.com
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