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VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details) $ in Thousands | Sep. 30, 2017 USD ($) lot
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Projected Number of Lots |  |
Purchase and option contracts recorded on balance sheet as Real estate not owned | lot | 242 |
Option contracts — non-refundable deposits, committed | lot | 3,858 | [1]
Purchase contracts — non-refundable deposits, committed | lot | 6,610 | [1]
Purchase and option contracts —refundable deposits, committed | lot | 560 |
Total committed | lot | 11,270 |
Purchase and option contracts — refundable deposits, uncommitted | lot | 8,465 | [2]
Total lots under contract or option | lot | 19,735 |
Total purchase and option contracts not recorded on balance sheet | lot | 19,493 | [3]
Purchase Price |  |
Purchase and option contracts recorded on balance sheet as Real estate not owned | $ 39,793 |
Option contracts — non-refundable deposits, committed | 283,709 | [1]
Purchase contracts — non-refundable deposits, committed | 300,962 | [1]
Purchase and option contracts —refundable deposits, committed | 17,669 |
Total committed | 642,133 |
Purchase and option contracts — refundable deposits, uncommitted | 232,952 | [2]
Total lots under contract or option | 875,085 |
Total purchase and option contracts not recorded on balance sheet | 835,292 | [3]
Option/ Earnest Money Deposits–Cash |  |
Purchase and option contracts recorded on balance sheet as Real estate not owned | 4,025 |
Option contracts — non-refundable deposits, committed | 37,927 | [1]
Purchase contracts — non-refundable deposits, committed | 24,255 | [1]
Purchase and option contracts —refundable deposits, committed | 902 |
Total committed | 67,109 |
Purchase and option contracts — refundable deposits, uncommitted | 4,463 | [2]
Total lots under contract or option | 71,572 |
Total purchase and option contracts not recorded on balance sheet | $ 67,547 | [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 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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