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Why would I sell part of my home to Pacaso?
Selling ownership interest in your home allows you to keep using the home, while distributing costs and realizing liquidity. If you love your second home but aren’t getting the most out of it, co-ownership may be a great option for you.
How does the sales process work?
Pacaso will purchase your home and retitle it into a property-specific LLC with eight equal ownership interests. You may 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 prep for a sale?
The process is lightweight and hands-off for you as a seller. Along with a local real estate agent, we create a full suite of custom print and digital marketing materials to show your home at its best. And after closing, we add designer touches and do any necessary repairs.
How do you find buyers to purchase shares in my home?
Our team has over 100 collective years working in the real estate industry. We are skilled at driving buyer demand through online and offline marketing strategies. We also work with local real 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 close on the home. Following closing, owners can begin using the home 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. You’ll work with your chosen real estate agent, who markets the home just like a whole home listing. Other owners have the right of first refusal.
How long will it take to sell ownership interest?
That depends on the local housing market at the time, just like with a traditional home sale. Each Pacaso home is unique and inventory is limited, the underlying demand/supply dynamics of our marketplace support a streamlined resale process.