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Variable Interest Entities and Consolidated Real Estate Not Owned (Tables) | 9 Months Ended
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Sep. 30, 2014
Variable Interest Entities and Consolidated Real Estate Not Owned [Abstract] |
Summary of lots under option or contract | The table below presents a summary of our lots under option or contract at September 30, 2014 (dollars in thousands):
| Projected Number of Lots |  | Purchase Price |  | Option/Earnest Money Deposits Cash |
Purchase and option contracts recorded on balance sheet as Real estate not owned | 70 |  |  | $ | 4,999 |  |  | $ | 700 |  |
Option contracts not recorded on balance sheet - non-refundable deposits, committed (1) | 5,891 |  |  | 430,970 |  |  | 55,422 |  |
Purchase contracts not recorded on balance sheet — non-refundable deposits, committed (1) | 4,124 |  |  | 241,093 |  |  | 21,012 |  |
Purchase contracts not recorded on balance sheet — refundable deposits, committed | 641 |  |  | 25,434 |  |  | 1,227 |  |
Total committed (on and off balance sheet) | 10,726 |  |  | 702,496 |  |  | 78,361 |  |
Total purchase and option contracts not recorded on balance sheet — refundable deposits, uncommitted (2) | 5,048 |  |  | 163,581 |  |  | 2,602 |  |
Total lots under contract or option | 15,774 |  |  | $ | 866,077 |  |  | $ | 80,963 |  |
Total option contracts not recorded on balance sheet (3) | 15,704 |  |  | $ | 861,078 |  |  | $ | 80,263 |  | (4 | )
(1) | Deposits are generally non-refundable except if certain contractual conditions fail or certain contractual obligations 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 option contracts recorded on our balance sheet as Real estate not owned, none of our option agreements require us to purchase lots.
(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, 2014.

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- Definition The tabular disclosure of the Company's real estate lots currently under option or contract with a third party including a detailed description of the number of lots, the purchase price and the amount of earnest money (if any)as of the balance sheet date. + References No definition available. + Details
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- Details
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