| Summary of lots under option or contract |
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Projected
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 |
2 |
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$ |
48 |
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$ |
— |
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Option contracts not recorded on balance sheet - non-refundable deposits, committed (1) |
4,287 |
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354,573 |
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37,100 |
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Purchase contracts not recorded on balance sheet — non-refundable deposits, committed (1) |
2,122 |
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79,566 |
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|
13,702 |
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Purchase contracts not recorded on balance sheet — refundable deposits, committed |
501 |
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25,127 |
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1,220 |
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Total committed (on and off balance sheet) |
6,912 |
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459,314 |
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52,022 |
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Total purchase and option contracts not recorded on balance sheet — refundable deposits, uncommitted (2) |
4,552 |
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106,964 |
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2,644 |
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Total lots under contract or option |
11,464 |
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$ |
566,278 |
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$ |
54,666 |
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Total option contracts not recorded on balance sheet (3) |
11,462 |
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$ |
566,230 |
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$ |
54,666 |
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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 March 31, 2014.
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