Quarterly report pursuant to Section 13 or 15(d)

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

v3.19.3
VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details)
$ in Thousands
Sep. 30, 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 3,079 [1]
Purchase contracts — non-refundable deposits, committed | lot 8,247 [1]
Purchase and option contracts —refundable deposits, committed | lot 1,361
Total committed | lot 12,687
Purchase and option contracts — refundable deposits, uncommitted | lot 9,620 [2]
Total lots under contract or option | lot 22,307
Total purchase and option contracts not recorded on balance sheet | lot 22,307 [3]
Purchase Price  
Purchase and option contracts recorded on balance sheet as Real estate not owned $ 0
Option contracts — non-refundable deposits, committed 190,430 [1]
Purchase contracts — non-refundable deposits, committed 337,200 [1]
Purchase and option contracts —refundable deposits, committed 50,498
Total committed 578,128
Purchase and option contracts — refundable deposits, uncommitted 378,528 [2]
Total lots under contract or option 956,656
Total purchase and option contracts not recorded on balance sheet 956,656 [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 23,349 [1]
Purchase contracts — non-refundable deposits, committed 18,513 [1]
Purchase and option contracts —refundable deposits, committed 1,660
Total committed 43,522
Purchase and option contracts — refundable deposits, uncommitted 2,121 [2]
Total lots under contract or option 45,643
Total purchase and option contracts not recorded on balance sheet $ 45,643 [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 (if any), none of our purchase or option contracts require us to purchase lots.
[4]
Amount is reflected on our unaudited consolidated balance sheet in Deposits on real estate under option or contract as of September 30, 2019.