Annual report pursuant to Section 13 and 15(d)

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

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VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details)
$ in Thousands
Dec. 31, 2019
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 4,539 [1]
Purchase contracts — non-refundable deposits, committed | lot 6,978 [1]
Purchase and option contracts —refundable deposits, committed | lot 3,861
Total committed | lot 15,378
Purchase and option contracts — refundable deposits, uncommitted | lot 11,273 [2]
Total lots under contract or option | lot 26,651
Total purchase and option contracts not recorded on balance sheet (3) | lot 26,651
Purchase Price (unaudited)  
Purchase and option contracts recorded on balance sheet as Real estate not owned $ 0
Option contracts — non-refundable deposits, committed 272,210 [1]
Purchase contracts — non-refundable deposits, committed 293,857 [1]
Purchase and option contracts —refundable deposits, committed 143,604
Total committed 709,671
Purchase and option contracts — refundable deposits, uncommitted 337,005 [2]
Total lots under contract or option 1,046,676
Total purchase and option contracts not recorded on balance sheet (3) 1,046,676
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 27,256 [1]
Purchase contracts — non-refundable deposits, committed 18,954 [1]
Purchase and option contracts —refundable deposits, committed 1,543
Total committed 47,753
Purchase and option contracts — refundable deposits, uncommitted 3,148 [2]
Total lots under contract or option 50,901
Total purchase and option contracts not recorded on balance sheet (3) $ 50,901 [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, 2019.