Quarterly report pursuant to Section 13 or 15(d)

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

v3.20.2
VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details)
$ in Thousands
Jun. 30, 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 6,715 [1]
Purchase contracts — non-refundable deposits, committed | lot 6,612 [1]
Purchase and option contracts —refundable deposits, committed | lot 3,870
Total committed | lot 17,197
Purchase and option contracts — refundable deposits, uncommitted | lot 13,354 [2]
Total lots under contract or option | lot 30,551
Total purchase and option contracts not recorded on balance sheet | lot 30,551 [3]
Purchase Price  
Purchase and option contracts recorded on balance sheet as Real estate not owned $ 0
Option contracts — non-refundable deposits, committed 347,701 [1]
Purchase contracts — non-refundable deposits, committed 182,935 [1]
Purchase and option contracts —refundable deposits, committed 113,119
Total committed 643,755
Purchase and option contracts — refundable deposits, uncommitted 448,244 [2]
Total lots under contract or option 1,091,999
Total purchase and option contracts not recorded on balance sheet 1,091,999 [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 28,393 [1]
Purchase contracts — non-refundable deposits, committed 13,084 [1]
Purchase and option contracts —refundable deposits, committed 1,375
Total committed 42,852
Purchase and option contracts — refundable deposits, uncommitted 4,980 [2]
Total lots under contract or option 47,832
Total purchase and option contracts not recorded on balance sheet $ 47,832 [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, 2020.