Quarterly report pursuant to Section 13 or 15(d)

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

v3.20.1
VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details)
$ in Thousands
Mar. 31, 2020
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 6,043 [1]
Purchase contracts — non-refundable deposits, committed | lot 7,277 [1]
Purchase and option contracts —refundable deposits, committed | lot 2,098
Total committed | lot 15,418
Purchase and option contracts — refundable deposits, uncommitted | lot 14,708 [2]
Total lots under contract or option | lot 30,126
Total purchase and option contracts not recorded on balance sheet | lot 30,126 [3]
Purchase Price  
Purchase and option contracts recorded on balance sheet as Real estate not owned $ 0
Option contracts — non-refundable deposits, committed 385,228 [1]
Purchase contracts — non-refundable deposits, committed 257,431 [1]
Purchase and option contracts —refundable deposits, committed 78,046
Total committed 720,705
Purchase and option contracts — refundable deposits, uncommitted 437,259 [2]
Total lots under contract or option 1,157,964
Total purchase and option contracts not recorded on balance sheet 1,157,964 [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 31,903 [1]
Purchase contracts — non-refundable deposits, committed 15,642 [1]
Purchase and option contracts —refundable deposits, committed 1,897
Total committed 49,442
Purchase and option contracts — refundable deposits, uncommitted 4,725 [2]
Total lots under contract or option 54,167
Total purchase and option contracts not recorded on balance sheet $ 54,167 [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 March 31, 2020.