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Variable Interest Entities (Tables)
 12 Months Ended
Dec. 31, 2014
Equity Method Investments And Joint Ventures [Abstract]  
Total Risk Related to Lot Options

NVR’s total risk of loss related to contract land deposits as of December 31, 2014 and 2013 was as follows:

 

 

 

December 31,

 

 

 

2014

 

 

2013

 

Contract land deposits

 

$

350,750

 

 

$

296,646

 

Loss reserve on contract land deposits

 

 

(56,074

)

 

 

(59,761

)

Contract land deposits, net

 

 

294,676

 

 

 

236,885

 

Contingent obligations in the form of letters of credit

 

 

4,674

 

 

 

2,459

 

Contingent specific performance obligations (1)

 

 

1,505

 

 

 

1,707

 

Total risk of loss

 

$

300,855

 

 

$

241,051

 

  

(1)

At December 31, 2014 and 2013, the Company was committed to purchase 10 and 13 finished lots under specific performance obligations, respectively.