Home co-ownership company Pacaso is looking to make second-home purchase more accessible with the launch of Pacaso Now. The new model offers low-down-payment options for second-home buyers through the first year of co-ownership.
According to a company release, Pacaso Now enables buyers to put just 5 percent down. After 12 months of ownership, participants can either omplete the down payment; transfer the 5 percent down to another home; or return the Pacaso ownership and walk away.
Homeowners also pay an all-inclusive 12-month ownership fee that covers operating expenses.
Pacaso Now is available in a number of popular California neighborhoods, including Malibu, Napa and Lake Tahoe.