On Black Friday and the subsequent Cyber Monday annual shopping holidays this year, second home co-ownership solution Pacaso will offer zero percent interest on shares in select homes within its marketplace for the first three years of ownership.
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On Black Friday and the subsequent Cyber Monday annual shopping holidays this year, second-home co-ownership solution Pacaso will offer zero percent interest (0%) on shares in select homes within its marketplace for the first three years of ownership. And, in the tradition of promotional sales parlance, the deal will be available only “while supplies last,” and include a seven-year pay-off.
Pacaso said in an email sent to Inman that it hopes this incentive will further promote fractional affordability within the second-home market, as well as showcase a few of its more unique properties.
Six homes are part of the program, including Santa Cruz’s Boardwalk; North Lake Tahoe’s Wood Creek; Desert Creek in the high desert enclave of Cave Creek, Arizona; South Lake Tahoe’s Monument Peak; Riviera in Santa Barbara; and Bennett in wine country’s coveted Calistoga.
Pacaso sells shares of second homes, typically in 1/8 portions. Buyers, who become co-owners with clear shared use plans, can purchase a larger share, depending on the property.
Agents are paid commissions according to their market’s commonly agreed-upon percentage, as well as offered RSU (restricted stock units) in the company, which also looks to hire teams of local vendors to supply and care for its properties.
Pacaso is…