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VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details) $ in Thousands | Jun. 30, 2019 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 — non-refundable deposits, committed | lot | 3,385 | [1]
Purchase contracts — non-refundable deposits, committed | lot | 6,971 | [1]
Purchase and option contracts —refundable deposits, committed | lot | 1,410 |
Total committed | lot | 11,766 |
Purchase and option contracts — refundable deposits, uncommitted | lot | 10,213 | [2]
Total lots under contract or option | lot | 21,979 |
Total purchase and option contracts not recorded on balance sheet | lot | 21,979 | [3]
Purchase Price |  |
Purchase and option contracts recorded on balance sheet as Real estate not owned | $ 0 |
Option contracts — non-refundable deposits, committed | 229,577 | [1]
Purchase contracts — non-refundable deposits, committed | 277,899 | [1]
Purchase and option contracts —refundable deposits, committed | 63,085 |
Total committed | 570,561 |
Purchase and option contracts — refundable deposits, uncommitted | 316,618 | [2]
Total lots under contract or option | 887,179 |
Total purchase and option contracts not recorded on balance sheet | 887,179 | [3]
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 | 25,388 | [1]
Purchase contracts — non-refundable deposits, committed | 16,089 | [1]
Purchase and option contracts —refundable deposits, committed | 1,370 |
Total committed | 42,847 |
Purchase and option contracts — refundable deposits, uncommitted | 3,473 | [2]
Total lots under contract or option | 46,320 |
Total purchase and option contracts not recorded on balance sheet | $ 46,320 | [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 (if any), none of our purchase or option contracts require us to purchase lots.
[4] | Amount is reflected on our unaudited consolidated balance sheet in Deposits on real estate under option or contract as of June 30, 2019.

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