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VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED (Tables) | 9 Months Ended
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Sep. 30, 2017
Variable Interest Entities and Consolidated Real Estate Not Owned [Abstract] |
Summary of Lots Under Option | The table below presents a summary of our lots under option at September 30, 2017 (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 | 242 |  |  | $ | 39,793 |  |  | $ | 4,025 |  |
Option contracts — non-refundable deposits, committed (1) | 3,858 |  |  | 283,709 |  |  | 37,927 |  |
Purchase contracts — non-refundable deposits, committed (1) | 6,610 |  |  | 300,962 |  |  | 24,255 |  |
Purchase and option contracts —refundable deposits, committed | 560 |  |  | 17,669 |  |  | 902 |  |
Total committed | 11,270 |  |  | 642,133 |  |  | 67,109 |  |
Purchase and option contracts — refundable deposits, uncommitted (2) | 8,465 |  |  | 232,952 |  |  | 4,463 |  |
Total lots under contract or option | 19,735 |  |  | $ | 875,085 |  |  | $ | 71,572 |  |
Total purchase and option contracts not recorded on balance sheet (3) | 19,493 |  |  | $ | 835,292 |  |  | $ | 67,547 |  | (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, 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, 2017.

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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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- Definition Variable interest entities and consolidated real estate not owned. + References No definition available. + Details
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