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With skyrocketing buyer demand and sky-high prices, it can be tough to find the perfect second home. Demand for personal retreats is outpacing supply, and attainably priced inventory leaves many buyers discouraged.
The solution to the sizzling-hot second home market? Pacaso’s lead buyer program.
What is a lead buyer?
Lead buyers are future owners interested in purchasing a second home the smarter way — the Pacaso way. By employing a partnership model that boosts purchasing power, lead buyers shop for real estate previously out of their price range without increasing their out-of-pocket purchase costs. This is made possible through a 50/50 joint venture with Pacaso, which purchases the home in a fully managed, property specific LLC.
To help you dig into the details, our Pacaso Crew partners will be with you every step of the way — first finding a great home, guiding the joint purchase, and then finding vetted buyers to co-own with you. Being a lead buyer gives you a new and better way to shop for your dream second home, all with a price tag and timeline that work for you.
Here’s how it works
- Increase your price range and start to imagine. Whatever you think your price range is, double it, and use that as your budget baseline. After a simple onboarding, we’ll begin to share listings that might match your dream. And if you find a great home on your own? Share it with us and we’ll see if it’s a fit for Pacaso. There’s zero pressure — we know it can take awhile to find “the one.”
- An easy-to-own dream. All Pacaso homes are personally vetted to meet our quality standards and curated for your needs. They are turnkey homes in prime second-home destinations, with top-tier amenities like pools with a view, ocean-front access or downhill slopes right out of your front door.
- Let’s make an offer. Pacaso works with a local real estate agent to prepare a purchase offer on the home in a property-specific LLC. You will be listed as the lead buyer with 50% ownership interest. Pacaso will own the remaining 50% at the time of closing.
- Enjoy your new home. While you’re de-stressing in your new second home, Pacaso will market the remaining 50% ownership interest to vetted buyers. Sold in ⅛ increments (e.g. ⅛, ¼, ½), your property will have a maximum of four other vetted co-owners. Pacaso serves as the program manager of the property-specific LLC, but does not maintain any ownership interest over the long term after the initial 50% ownership is sold.
The three main lead-buyer benefits
Narrowing it down to just three is tough, but being a lead buyer benefits you by:
- Doubling your buying power: When it comes to a second home, we know you don’t want to settle. Lead buying empowers you to shop from a wider price range of homes. By increasing your buying capacity, you can compromise less and enjoy more.
- Letting you close with confidence: With Pacaso as a buying partner, you are able to close quickly and with no contingencies.
- Providing a safe and proven ownership structure: LLC co-ownership with Pacaso is true real estate property ownership. After all buyers are acquired, the home is fully owned by the LLC and its members — you as the lead buyer and your co-owners. An LLC is a safe, proven and private way to own real estate.
Becoming a lead buyer unlocks the tight second home market, letting you enjoy your home at a price you can feel good about.
