Quarterly report pursuant to Section 13 or 15(d)

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

v3.19.1
VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details)
$ in Thousands
Mar. 31, 2019
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 3,620 [1]
Purchase contracts — non-refundable deposits, committed | lot 5,569 [1]
Purchase and option contracts —refundable deposits, committed | lot 764
Total committed | lot 9,953
Purchase and option contracts — refundable deposits, uncommitted | lot 9,567 [2]
Total lots under contract or option | lot 19,520
Total purchase and option contracts not recorded on balance sheet | lot 19,520 [3]
Purchase Price  
Purchase and option contracts recorded on balance sheet as Real estate not owned $ 0
Option contracts — non-refundable deposits, committed 244,783 [1]
Purchase contracts — non-refundable deposits, committed 198,841 [1]
Purchase and option contracts —refundable deposits, committed 30,325
Total committed 473,949
Purchase and option contracts — refundable deposits, uncommitted 335,126 [2]
Total lots under contract or option 809,075
Total purchase and option contracts not recorded on balance sheet 809,075 [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 27,493 [1]
Purchase contracts — non-refundable deposits, committed 12,738 [1]
Purchase and option contracts —refundable deposits, committed 481
Total committed 40,712
Purchase and option contracts — refundable deposits, uncommitted 4,115 [2]
Total lots under contract or option 44,827
Total purchase and option contracts not recorded on balance sheet $ 44,827 [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, none of our purchase or option contracts require us to purchase lots.
[4] Amount is reflected on our consolidated balance sheet in Deposits on real estate under option or contract as of March 31, 2019.