ACEVEDO. New Act Creates the Real Estate Broker Residential Home Builder Escrow Account Act. Provides that when a contract is entered into between a licensed real estate broker who engages in the business of building residential single-family homes and another person to build a residential single-family home and an escrow account is established, the minimum amount of the account shall be $10,000. Provides that when the builder fails to meet any contract deadline, the other person is entitled to $100 per day for each day past the deadline until the builder complies with the relevant contractual provision. 97-11-14 H FILED WITH CLERK 98-01-06 H FIRST READING 98-01-06 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-01-12 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary