Quarterly report pursuant to Section 13 or 15(d)

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

v3.21.2
VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details)
$ in Thousands
Jun. 30, 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 8,901 [1]
Purchase contracts — non-refundable deposits, committed | lot 11,871 [1]
Purchase and option contracts —refundable deposits, committed | lot 2,650
Total committed | lot 23,422
Purchase and option contracts — refundable deposits, uncommitted | lot 27,311 [2]
Total lots under contract or option | lot 50,733
Total purchase and option contracts not recorded on balance sheet | lot 50,733 [3]
Purchase Price  
Purchase and option contracts recorded on balance sheet as Real estate not owned $ 0
Option contracts — non-refundable deposits, committed 469,798 [1]
Purchase contracts — non-refundable deposits, committed 359,331 [1]
Purchase and option contracts —refundable deposits, committed 89,326
Total committed 918,455
Purchase and option contracts — refundable deposits, uncommitted 733,026 [2]
Total lots under contract or option 1,651,481
Total purchase and option contracts not recorded on balance sheet 1,651,481 [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 38,094 [1]
Purchase contracts — non-refundable deposits, committed 28,600 [1]
Purchase and option contracts —refundable deposits, committed 886
Total committed 67,580
Purchase and option contracts — refundable deposits, uncommitted 6,817 [2]
Total lots under contract or option 74,397
Total purchase and option contracts not recorded on balance sheet $ 74,397 [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 June 30, 2021.