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VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details) $ in Thousands | Sep. 30, 2016 USD ($) lot
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Projected Number of Lots |  |
Purchase and option contracts recorded on balance sheet as Real estate not owned | lot | 0 |
Option contracts not recorded on balance sheet — non-refundable deposits, committed | lot | 4,395 | [1]
Purchase contracts not recorded on balance sheet — non-refundable deposits, committed | lot | 4,330 | [1]
Purchase contracts not recorded on balance sheet —refundable deposits, committed | lot | 820 |
Total committed (on and off balance sheet) | lot | 9,545 |
Total purchase and option contracts not recorded on balance sheet — refundable deposits, uncommitted | lot | 7,343 | [2]
Total lots under contract or option | lot | 16,888 |
Total purchase and option contracts not recorded on balance sheet | lot | 16,888 | [3]
Purchase Price |  |
Purchase and option contracts recorded on balance sheet as Real estate not owned | $ 0 |
Option contracts not recorded on balance sheet — non-refundable deposits, committed | 437,644 | [1]
Purchase contracts not recorded on balance sheet — non-refundable deposits, committed | 266,086 | [1]
Purchase contracts not recorded on balance sheet —refundable deposits, committed | 31,414 |
Total committed (on and off balance sheet) | 735,144 |
Total purchase and option contracts not recorded on balance sheet — refundable deposits, uncommitted | 361,238 | [2]
Total lots under contract or option | 1,096,382 |
Total purchase and option contracts not recorded on balance sheet | 1,096,382 | [3]
Option/ Earnest Money Deposits–Cash |  |
Purchase and option contracts recorded on balance sheet as Real estate not owned | 0 |
Option contracts not recorded on balance sheet — non-refundable deposits, committed | 63,645 | [1]
Purchase contracts not recorded on balance sheet — non-refundable deposits, committed | 20,079 | [1]
Purchase contracts not recorded on balance sheet —refundable deposits, committed | 1,855 |
Total committed (on and off balance sheet) | 85,579 |
Total purchase and option contracts not recorded on balance sheet — refundable deposits, uncommitted | 5,474 | [2]
Total lots under contract or option | 91,053 |
Total purchase and option contracts not recorded on balance sheet | $ 91,053 | [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 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 option agreements require us to purchase lots.
[4] | Amount is reflected on our consolidated balance sheet in Deposits on real estate under option or contract as of September 30, 2016.

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