Get answers to common questions about the PacasoNow payment program.
What is PacasoNow?
PacasoNow is a new payment plan that enables you to enjoy a luxury second home with less upfront cost and more flexibility. With just a 5% down payment and one all-inclusive, ownership fee, you get the complete Pacaso experience for 12 months, including easy scheduling, professional interior design and dedicated property management. This new offer is available on select Pacaso homes (excluding owner resale listings).
Why would I buy a home through PacasoNow?
With PacasoNow, you can experience all the benefits of second home ownership at a lower upfront cost, and have options after 12 months. You can make memories in a home you know and love for less than the cost of a comparable luxury hotel or vacation rental.
Why are you offering PacasoNow?
Pacaso is delivering on our mission to make second home ownership possible for more people. With the uncertainty of the macro environment, our buyers are asking for more flexibility to experience our homes without the full financial commitment of ownership. PacasoNow is a new offering to lessen the upfront commitment of buying a whole while giving the full benefits of owning a Pacaso. We’re confident that once buyers experience their Pacaso, they’ll want to become owners for the long term.
What happens after 12 months of ownership?
After 12 months (from your first stay or 60 days from signature), you must complete their down payment (i.e. contribute an additional 25% additional towards the initial 5% down payment). If you are no longer interested in being an owner, you return your share back to Pacaso and walk away. Alternatively, you can take advantage of the Pacaso Home Transfer Benefit and apply their down payment toward another eligible home for an additional 12 months.
What is included in the ownership fee?
The all-inclusive ownership fee is equal to 5% of the home cost and includes all operating expenses, cleaning fees and a Pacaso service charge. You will not see another charge during your first 12 months. Before PacasoNow, buyers were required to put a down payment of 30% upfront and pay additional monthly operating expenses.
What are my payment options?
You can pay our down payment via credit card or cash. Owners can pay in one lump-sum (i.e. 10% of unit price) or pay in two equal installments due at the time of closing and at 6 months of ownership. Buyers will sign all standard Pacaso paperwork.
Can I finance my 5% down payment?
Financing will not be offered for PacasoNow upon initial purchase. However, you are eligible for financing when you’re ready to put down an additional 25% equity toward ownership. At that time, you will be eligible for a loan at current market rates.
Can I sell my share during my first year?
No — you will not be eligible to sell your PacasoNow share during the first year of ownership.
Is this rental or a lease-to-own offering?
This is not a rental model. Owners sign the same paperwork as with our standard Pacaso ownership model. PacasoNow provides a flexible payment option.
Does scheduling differ with PacasoNow?
No — you’ll continue to schedule your time through the SmartStay scheduling app. Learn more about scheduling here.
When can I lock in a stay in my home?
You can begin to reserve your dates right away as you complete the paperwork for your Pacaso.
Does the share price change after a year?
When you purchase with PacasoNow, you lock in the share price at the initial purchase.
What is the closing process?
The closing process is fast. Upon payment of the deposit, you’ll sign the ownership agreement and closing documentation. It’s possible to close in as quickly as 24 hours or sooner.
I’m interested in PacasoNow. How do I move forward?
Contact email@example.com, and we’ll get you started.
More about co-ownership
Own now for 5% down payment
Enjoy flexible ownership at a low upfront cost. After 12 months, keep owning your home or walk away.