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Get more for your budget“Discovery” buyers are actively shopping for the second home of their dreams, and they’re excited about Pacaso’s modern approach to buying and owning a second home. So, how do buyers and Pacaso work together? The discovery program empowers buyers to find a second home listing they love and share it with Pacaso. If the home meets Pacaso’s criteria, Pacaso will purchase ½ the home, or up to ¾ of the home in areas where buyer demand is especially high. The discovery buyer then commits to purchase ¼-½ ownership. In a nutshell, you can expand your home search to include second homes that were previously out of your price range, boosting your purchasing power by partnering with Pacaso. For example, if your second home budget is $500,000 — a price point in high demand — you can now search for luxury homes priced at $2M!This differs slightly from buying an active Pacaso listing. Active Pacaso listings are homes in top markets that are available now for co-ownership, and the minimum purchase amount is ⅛ ownership.
What makes a home a Pacaso?All Pacaso homes are exceptional properties that meet our selection criteria and are curated for your needs. They are turnkey homes in prime second home destinations, with top-tier amenities like pools with a view, oceanfront access or downhill slopes steps from your front door.
Here’s how it worksOur Pacaso Crew provides support as you decide what home is right for you, and we facilitate the joint purchase. Then, we find vetted buyers to co-own with you.Increase your price range and start to imagine. Whatever you think your price range is, multiply it by four, and use that as your budget baseline as you browse our curated listings. Active Pacaso listings are available now, and Prospects are homes under consideration for co-ownership. A Prospect can become an active Pacaso if we get enough buyer interest, so be sure to let us know if one of those homes is right for you! If you don’t find a match right away, tell our Crew what you’re looking for — we’ll gather information about your dream location and must-haves. We’re continuously adding new homes, and your perfect match could be just a listing away. Or, if you see a great home for sale on another real estate site, share it with us and we’ll see if it’s a fit for Pacaso.If you’d rather not scout out homes on your own, sign up for our mailing list and be the first to know when new listings are added. Let’s make an offer. Pacaso works with a local real estate professional to prepare a purchase offer on the home in a property-specific LLC. You will be listed as a member of the LLC with a minimum ownership interest of ¼, depending on how much you wish to purchase.Enjoy your new home. While you’re relaxing in your new second home, Pacaso will market the remaining shares to vetted buyers. Sold in ⅛ increments (e.g., ⅛, ¼, ½), your property will have a maximum of six 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 remaining shares are sold.
Benefits for buyersThere are many reasons to choose co-ownership with Pacaso! But if we had to narrow it down, here are three top benefits of buying a second home through our discovery program:
- Boosting your buying power: When it comes to a second home, we know you don’t want to settle. Our discovery program empowers you to shop from a wider price range of homes. By increasing your purchasing power, 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 shares have been sold, the home is fully owned by the LLC and its members — you and your co-owners. An LLC is a safe, proven and private way to own real estate.