Our 727 was rebuilt. When we road tested the car the transmission was slipping in the forward gears. When we shifted it into park and then into reverse, reverse felt bound up like a trans brake for a second then worked great but now we have no forward gears. Also it is in drive when in neutral and if I give it gas in park it wants to creap forward. Any ideas to what is wrong would help a lot. Thanks for looking.
First off, it sounds like the gear selector is not matched to the transmission. Get that adjusted first and see what other problems still exist.
I pulled the pan and the gear selecter is where it is supposed to be. Park and neutral line up right on the neutral safety detent. I also readjusted the front and rear bands to 72 in lbs with the proper back offs and double checked the kickdown linkage and all were within spec. I also raised the pump line pressure a little. My guess is that the forward clutch pack did not fully engage and is welded together. I will pull the transmission and post my findings. Thanks ws27 for the reply.
I found the receipt for the transmission rebuild, torque converter and kickdown kit $1,323.00 and it is still under warranty! I contacted the transmission shop and I will drop it off Monday morning.