You’ve found your ideal holiday home, so let’s take you through what happens over the next couple of weeks. Just a few more steps before you step through the door of your Pacaso!
The path to completion
Reserve your share
Pacaso arranges a call to kick off your completion. You’ll sign the residential sale and purchase contract and addendum. You’ll receive instructions on how to transfer your deposit, which is 10% of the share price.
Review and sign documents
You’ll receive two sets of documents to review and sign. The first includes the house policy, program manager agreement and building survey. The second contains the operating agreement and ACH form for monthly operating expenses.
If you are financing a portion of your purchase, you must provide Pacaso with your most recent payslip, bank statement and tax return. In addition, you will need to supply a credit report authorisation.
Prepare for completion
Pacaso schedules a check-in call 5 days before completion. We’ll review the details of your exchange and completion and give you instructions on how to send the remaining funds. We’ll confirm all documents are signed and verify your first stay date.
Congratulations, you are now a Pacaso owner! It’s time to crack open the champagne and share the good news about your holiday home with your family and friends. Now, just one more step.
Following completion, schedule an onboarding session with your owner concierge team. Download the Pacaso app so you can start booking your stays, and get ready to enjoy your new holiday home!
What to expect as an owner
Our support doesn't end at completion. Pacaso takes care of your home, so you can just show up and relax. Our ongoing services include property management, bill payment, maintenance and more.
Owners are responsible for the home's monthly operating expenses, such as utilities and cleaning. Pacaso passes these costs on to owners with no markup, based on the number of shares owned. We charge a €199 monthly fee for our management services.
Are completion costs included in the price?
Yes, completion costs, such as stamp duty and commissions, are already included in the share price. If a buyer chooses to finance up to 70% of their purchase through Pacaso’s banking partners, an additional financing fee will be assessed at closing.
Does the Pacaso program management fee go up each year?
No, our management fee is a fixed €199 per month.
Can Pacaso make changes to the owner operating agreement?
Material changes require an ownership vote. Pacaso has limited authority to make non-material changes (e.g., change of address for local government reporting purposes) on behalf of the ownership group.
Can Pacaso raise the monthly home operating estimate?
All operating expenses are passed through at cost, and all cost statements are available to owners upon request. Pacaso cannot increase its fees without cause. As the limited company manager, we will only increase what is collected from owners as necessary to cover a change in household expenses (e.g., an increase in insurance rates).
Where do the reserve funds go and how are funds used?
Reserve funds are held in the individual limited company's bank account, managed by Pacaso. Funds are only used for the home’s repairs and maintenance. When the need for a major repair arises, Pacaso will allocate funds after a transparent competitive bid process.
What if another owner defaults? How does Pacaso protect me as an owner?
Pacaso serves as the corporate guarantor of any share financing protecting you should another owner default. In the unfortunate event of an owner default, Pacaso will step in to service the loan. If not resolved within 90 days, we will foreclose on that specific share and manage the resale without any disruption to the ownership group.