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VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details) $ in Thousands | Dec. 31, 2018 USD ($) lot
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Projected Number of Lots (unaudited) |  |
Purchase and option contracts recorded on balance sheet as Real estate not owned | lot | 0 |
Option contracts — non-refundable deposits, committed | lot | 4,325 | [1]
Purchase contracts — non-refundable deposits, committed | lot | 5,468 | [1]
Purchase and option contracts —refundable deposits, committed | lot | 751 |
Total committed | lot | 10,544 |
Purchase and option contracts — refundable deposits, uncommitted | lot | 11,243 | [2]
Total lots under contract or option | lot | 21,787 |
Total purchase and option contracts | lot | 21,787 |
Purchase Price (unaudited) |  |
Purchase and option contracts recorded on balance sheet as Real estate not owned | $ 0 |
Option contracts — non-refundable deposits, committed | 293,274 | [1]
Purchase contracts — non-refundable deposits, committed | 206,986 | [1]
Purchase and option contracts —refundable deposits, committed | 32,974 |
Total committed | 533,234 |
Purchase and option contracts — refundable deposits, uncommitted | 377,669 | [2]
Total lots under contract or option | 910,903 |
Total purchase and option contracts | 910,903 |
Option/ Earnest Money Deposits–Cash |  |
Purchase and option contracts recorded on balance sheet as Real estate not owned | 0 |
Option contracts — non-refundable deposits, committed | 31,248 | [1]
Purchase contracts — non-refundable deposits, committed | 15,787 | [1]
Purchase and option contracts —refundable deposits, committed | 401 |
Total committed | 47,436 |
Purchase and option contracts — refundable deposits, uncommitted | 3,974 | [2]
Total lots under contract or option | 51,410 |
Total purchase and option contracts | $ 51,410 | [3]
[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] | Amount is reflected in our consolidated balance sheet in the line item “Deposits on real estate under option or contract” as of December 31, 2018.

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