| Summary of lots under option or contract |
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Number of
Lots
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Purchase
Price
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Option/Earnest
Money Deposits
Cash
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Purchase and option contracts recorded on balance sheet as Real estate not owned |
20 |
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$ |
481 |
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$ |
135 |
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Option contracts not recorded on balance sheet - non-refundable deposits, committed (1) |
3,075 |
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231,338 |
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22,771 |
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Purchase contracts not recorded on balance sheet — non-refundable deposits, committed (1) |
3,048 |
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153,414 |
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9,759 |
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Purchase contracts not recorded on balance sheet — refundable deposits, committed |
327 |
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15,432 |
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216 |
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Total committed (on and off balance sheet) |
6,470 |
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400,665 |
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32,881 |
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Total purchase and option contracts not recorded on balance sheet — refundable deposits, uncommitted (2) |
4,140 |
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111,108 |
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2,165 |
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Total lots under contract or option |
10,610 |
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$ |
511,773 |
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$ |
35,046 |
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Total option contracts not recorded on balance sheet (3) |
10,590 |
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$ |
511,292 |
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$ |
34,911 |
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(4 |
) |
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(1) |
Deposits are generally non-refundable except if certain contractual conditions fail or certain contractual obligations are not performed by the selling party. |
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(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. |
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(3) |
Except for our specific performance option contracts recorded on our balance sheet as Real estate not owned, none of our option agreements require us to purchase lots. |
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(4) |
Amount is reflected in our consolidated balance sheet in the line item “Deposits on real estate under option or contract” as of September 30, 2013.
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