Closing on Your Second Home | Pacaso

Close with confidence

Streamlined closing

You’ve found your perfect second home, so let’s walk through what happens over the next couple of weeks. Just a few more steps before you step through the door of your Pacaso!

Back patio of the poolhouse in napa

The path to closing

  • number 1

    Reserve your share

    Pacaso schedules a call to kick off your closing. You’ll sign the residential purchase agreement and addendum. You’ll receive instructions on how to wire your deposit, which is 10% of the share price.

  • Number 2 icon

    Review and sign documents

    You’ll receive two packets of documents to review and sign. The first includes the house policy, program manager agreement, inspection report and seller disclosures. The second has the operating agreement and ACH form for monthly operating expenses.

  • Number 3

    Secure financing

    If you are financing a portion of your purchase, you must provide Pacaso with your most recent pay stub, bank statement and tax return. In addition, you will need to supply a credit report authorization.

  • Number 4

    Prepare for closing

    Pacaso schedules a check-in call 5 days before closing. We’ll review your closing statement and wire instructions for sending the remaining funds. We’ll confirm all documents are signed and verify your first stay date.

  • Number 5

    Close

    Congratulations, you are now a Pacaso owner! It’s time to crack open the champagne and share the good news about your second home with your family and friends. Now, just one more step.

  • Number 6

    Onboarding

    Following closing, schedule an onboarding session with your owner concierge team. Then you’ll download your Pacaso Owner App to start booking your stays and set a date to do a home walkthrough with the local property manager.

Closing FAQs

  • Can Pacaso raise monthly operating expenses?

  • Does your LLC asset management fee go up each year?

  • Can Pacaso make changes to the owner operating agreement?

  • Where do the reserve funds go and how are funds used?

  • What if another owner defaults? How does Pacaso protect me as an owner?