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
Sep. 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 11,433 [1]
Purchase contracts — non-refundable deposits, committed | lot 11,084 [1]
Purchase and option contracts —refundable deposits, committed | lot 2,619
Total committed | lot 25,136
Purchase and option contracts — refundable deposits, uncommitted | lot 31,655 [2]
Total lots under contract or option | lot 56,791
Total purchase and option contracts not recorded on balance sheet | lot 56,791 [3]
Purchase Price  
Purchase and option contracts recorded on balance sheet as Real estate not owned $ 0
Option contracts — non-refundable deposits, committed 530,759 [1]
Purchase contracts — non-refundable deposits, committed 327,738 [1]
Purchase and option contracts —refundable deposits, committed 86,635
Total committed 945,132
Purchase and option contracts — refundable deposits, uncommitted 769,696 [2]
Total lots under contract or option 1,714,828
Total purchase and option contracts not recorded on balance sheet 1,714,828 [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 43,214 [1]
Purchase contracts — non-refundable deposits, committed 25,734 [1]
Purchase and option contracts —refundable deposits, committed 743
Total committed 69,691
Purchase and option contracts — refundable deposits, uncommitted 8,296 [2]
Total lots under contract or option 77,987
Total purchase and option contracts not recorded on balance sheet $ 77,987 [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 the accompanying 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 the accompanying unaudited consolidated balance sheets in Deposits on real estate under option or contract as of September 30, 2021.