Quarterly report pursuant to Section 13 or 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
Jun. 30, 2018
USD ($)
lot
Projected Number of Lots  
Purchase and option contracts recorded on balance sheet as Real estate not owned | lot 228
Option contracts — non-refundable deposits, committed | lot 2,907 [1]
Purchase contracts — non-refundable deposits, committed | lot 5,854 [1]
Purchase and option contracts —refundable deposits, committed | lot 866
Total committed | lot 9,855
Purchase and option contracts — refundable deposits, uncommitted | lot 10,728 [2]
Total lots under contract or option | lot 20,583
Total purchase and option contracts not recorded on balance sheet | lot 20,355 [3]
Purchase Price  
Purchase and option contracts recorded on balance sheet as Real estate not owned $ 38,864
Option contracts — non-refundable deposits, committed 219,491 [1]
Purchase contracts — non-refundable deposits, committed 229,643 [1]
Purchase and option contracts —refundable deposits, committed 33,091
Total committed 521,089
Purchase and option contracts — refundable deposits, uncommitted 271,343 [2]
Total lots under contract or option 792,432
Total purchase and option contracts not recorded on balance sheet 753,568 [3]
Option/ Earnest Money Deposits–Cash  
Purchase and option contracts recorded on balance sheet as Real estate not owned 3,886
Option contracts — non-refundable deposits, committed 26,432 [1]
Purchase contracts — non-refundable deposits, committed 18,353 [1]
Purchase and option contracts —refundable deposits, committed 1,021
Total committed 49,692
Purchase and option contracts — refundable deposits, uncommitted 3,074 [2]
Total lots under contract or option 52,766
Total purchase and option contracts not recorded on balance sheet $ 48,880 [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 June 30, 2018.