Annual report pursuant to Section 13 and 15(d)

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

v3.20.4
VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details)
$ in Thousands
Dec. 31, 2020
USD ($)
lot
Projected Number of Lots (unaudited)  
Purchase and option contracts recorded on balance sheet as Real estate not owned | lot 0
Option contracts — non-refundable deposits, committed | lot 8,869 [1]
Purchase contracts — non-refundable deposits, committed | lot 11,619 [1]
Purchase and option contracts —refundable deposits, committed | lot 2,246
Total committed | lot 22,734
Purchase and option contracts — refundable deposits, uncommitted | lot 14,325 [2]
Total lots under contract or option | lot 37,059
Total purchase and option contracts not recorded on balance sheet (3) | lot 37,059
Purchase Price (unaudited)  
Purchase and option contracts recorded on balance sheet as Real estate not owned $ 0
Option contracts — non-refundable deposits, committed 440,660 [1]
Purchase contracts — non-refundable deposits, committed 360,921 [1]
Purchase and option contracts —refundable deposits, committed 65,719
Total committed 867,300
Purchase and option contracts — refundable deposits, uncommitted 423,083 [2]
Total lots under contract or option 1,290,383
Total purchase and option contracts not recorded on balance sheet (3) 1,290,383
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 31,710 [1]
Purchase contracts — non-refundable deposits, committed 23,761 [1]
Purchase and option contracts —refundable deposits, committed 1,218
Total committed 56,689
Purchase and option contracts — refundable deposits, uncommitted 2,845 [2]
Total lots under contract or option 59,534
Total purchase and option contracts not recorded on balance sheet (3) $ 59,534 [3]
[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.
[3] Amount is reflected in our consolidated balance sheet in the line item “Deposits on real estate under option or contract” as of December 31, 2020.