Quarterly report pursuant to Section 13 or 15(d)

VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details)

v3.19.2
VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details)
$ in Thousands
Jun. 30, 2019
USD ($)
lot
Projected Number of Lots  
Purchase and option contracts recorded on balance sheet as Real estate not owned | lot 0
Option contracts — non-refundable deposits, committed | lot 3,385 [1]
Purchase contracts — non-refundable deposits, committed | lot 6,971 [1]
Purchase and option contracts —refundable deposits, committed | lot 1,410
Total committed | lot 11,766
Purchase and option contracts — refundable deposits, uncommitted | lot 10,213 [2]
Total lots under contract or option | lot 21,979
Total purchase and option contracts not recorded on balance sheet | lot 21,979 [3]
Purchase Price  
Purchase and option contracts recorded on balance sheet as Real estate not owned $ 0
Option contracts — non-refundable deposits, committed 229,577 [1]
Purchase contracts — non-refundable deposits, committed 277,899 [1]
Purchase and option contracts —refundable deposits, committed 63,085
Total committed 570,561
Purchase and option contracts — refundable deposits, uncommitted 316,618 [2]
Total lots under contract or option 887,179
Total purchase and option contracts not recorded on balance sheet 887,179 [3]
Option/ Earnest Money Deposits–Cash  
Purchase and option contracts recorded on balance sheet as Real estate not owned 0
Option contracts — non-refundable deposits, committed 25,388 [1]
Purchase contracts — non-refundable deposits, committed 16,089 [1]
Purchase and option contracts —refundable deposits, committed 1,370
Total committed 42,847
Purchase and option contracts — refundable deposits, uncommitted 3,473 [2]
Total lots under contract or option 46,320
Total purchase and option contracts not recorded on balance sheet $ 46,320 [3],[4]
[1]
Deposits are non-refundable except if certain contractual conditions are not performed by the selling party.
[2]
Deposits are refundable at our sole discretion. We have not completed our acquisition evaluation process and we have not internally committed to purchase these lots.
[3]
Except for our specific performance contracts recorded on our balance sheet as Real estate not owned (if any), none of our purchase or option contracts require us to purchase lots.
[4]
Amount is reflected on our unaudited consolidated balance sheet in Deposits on real estate under option or contract as of June 30, 2019.