Get answers to common questions about selling your whole home to Pacaso and reselling your Pacaso ownership.
How to sell your second home to Pacaso
Sell part of your second home to Pacaso, and let us take care of the management and upkeep.
Selling part of your home
Why would I sell part of my property to Pacaso?
Selling ownership interest in your property allows you to keep using the property, while distributing costs and realising liquidity. If you love your second home but feel you aren’t getting the most out of it, co-ownership might be an excellent option for you.
HOW DOES THE SALES PROCESS WORK?
Pacaso will purchase your property and retitle it into a property-specific limited company with eight equal ownership interests. You can retain the amount of ownership that meets your needs, up to 50%, and Pacaso will find buyers for the rest.
WHAT WORK IS NEEDED TO PREPARE FOR A SALE?
The process is simple and easy for you as a seller. Along with a local estate agent, we create a full suite of custom print and digital marketing materials to show your property at its best. After completion, we add designer touches and do any necessary repairs.
HOW DO YOU FIND BUYERS TO PURCHASE SHARES IN MY PROPERTY?
Our team has over 100 collective years working in the real estate industry. We are skilled at building buyer demand through online and offline marketing strategies. We also work with local estate agents who are local experts in the community, and market the listing to their network.
How are prospective owners evaluated?
We vet all owners, who agree to a common-sense owner code of conduct. The home will be reserved for the exclusive use of owners and their guests.
WHAT HAPPENS TO MY FURNITURE?
Our interior design team reviews each home. If the existing furniture is a fit for Pacaso, we purchase it directly from the seller. If not, the home is given a full interior design makeover following closing.
Does Pacaso need to sell all the shares of the home before I can start using it?
Once half of the available ownership interest is sold, Pacaso moves to complete on the property. Following completion, owners can begin using the property while the company sells the remaining ownership.
What happens if I want to sell in a few years?
You may sell at any point after the first 12 months of ownership at a price of your choosing. We'll market the property just like a normal estate agent listing. Other owners have the right of first refusal.
Ownership transfer and resale
How does ownership transfer work?
As a benefit to owners, we offer a one-time option to transfer ownership to another Pacaso during the first 12 months after you close on your purchase.
Can I transfer ownership to another Pacaso at any time?
Pacaso's transfer benefit can be used only during your first 12 months of ownership. You will then have a 30-day grace period to take advantage of the option, after which your transfer option will be forfeited (but you can still resell your share on the open market).
Can I transfer ownership more than once?
No, this is a one-time benefit for owners.
Does Pacaso charge a transfer fee?
No, there is no transfer fee and Pacaso is not making a profit on the transaction. This option is provided as a benefit to owners.
Does my ownership transfer immediately, or do I have to wait for my original share to be resold?
Ownership transfers immediately, so you can start booking time in your new Pacaso right away.
How will an ownership transfer affect my available stay nights?
Your stay nights will reset, and the transfer date will be your new ownership anniversary date.
I want to transfer my ownership to a less expensive property. How does that work?
The price difference will be applied as a credit toward your owner operating expenses for up to 3 years. If any credit remains after 3 years, you’ll receive a refund for the balance.
I want to transfer my ownership to a more expensive property. How does that work?
You will pay the difference in price. For example, if your original purchase price was €450,000, and your new property share price is €550,000, you will pay €100,000.
Can I finance the price difference if I transfer to a more expensive property?
Yes, eligible buyers can use our financing partner to finance the difference in share price.
How does transferring ownership affect my taxes?
We recommend that you consult with your personal accountant or tax professional. Pacaso will provide you with partnership tax forms for each property.
How does Pacaso resale work?
After 12 months of ownership, any Pacaso owner can choose to sell their ownership interest, at any time. Each owner has independent control over the sale and price of their share. Pacaso will provide you with a current comparative market analysis (CMA) for your ownership interest, which you can use to help set your price. Pacaso will assist in the sale process by tapping into its existing marketplace of buyers (some homes even have waitlists) and marketing the home on Pacaso and third-party websites. Completion is fast and streamlined.
Can a Pacaso owner really choose any sale price for their share?
Pacaso recommends a market price, but the seller makes the final call.
Can buyers negotiate the sale price an owner has set?
Yes, we think of the resale marketplace as fluid and moving in line with the open market, so buyers are welcome to bring offers. The seller can choose to accept or decline any offer.
What happens if my share isn’t selling?
In addition to listing the home on Pacaso and third-party websites, Pacaso will actively market the share, which may include promoting the listing through email or direct mail marketing. If we’re not seeing buyer interest despite these marketing efforts, we might recommend lowering the asking price.
Are there completion costs, commissions or other transaction fees for Pacaso owners who sell their shares?
For the seller, a standard commission fee is deducted from the final sale price. For the buyer, there are no title, survey or service fees on resale transactions. Buyers fund the first six months of their home’s operating expenses at completion, similar to stamp duty and fees in a traditional sale. Buyers who choose to finance their purchase also pay a financing fee at completion.