Quarterly report pursuant to Section 13 or 15(d)

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

v3.21.1
VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details)
$ in Thousands
Mar. 31, 2021
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 8,385 [1]
Purchase contracts — non-refundable deposits, committed | lot 11,683 [1]
Purchase and option contracts —refundable deposits, committed | lot 2,880
Total committed | lot 22,948
Purchase and option contracts — refundable deposits, uncommitted | lot 18,505 [2]
Total lots under contract or option | lot 41,453
Total purchase and option contracts not recorded on balance sheet | lot 41,453 [3]
Purchase Price  
Purchase and option contracts recorded on balance sheet as Real estate not owned $ 0
Option contracts — non-refundable deposits, committed 427,373 [1]
Purchase contracts — non-refundable deposits, committed 386,915 [1]
Purchase and option contracts —refundable deposits, committed 86,163
Total committed 900,451
Purchase and option contracts — refundable deposits, uncommitted 505,131 [2]
Total lots under contract or option 1,405,582
Total purchase and option contracts not recorded on balance sheet 1,405,582 [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 32,874 [1]
Purchase contracts — non-refundable deposits, committed 26,399 [1]
Purchase and option contracts —refundable deposits, committed 1,366
Total committed 60,639
Purchase and option contracts — refundable deposits, uncommitted 3,716 [2]
Total lots under contract or option 64,355
Total purchase and option contracts not recorded on balance sheet $ 64,355 [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 unaudited consolidated balance sheets 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 sheets in Deposits on real estate under option or contract as of March 31, 2021.