We are accustomed to the buyer having a choice of escrow but often, the bank chooses the escrow because the have specific procedures in place and time is of the essence. They don't want to mess around and have some other escrow officer make mistakes and such.
It is normal that the sale terms are 'As-Is' and the bank is under no obligation to make repairs; no seller is under obligation for that matter, unless it is a lender required repair. Lender required repairs have to be documented on an inspection. You are in a cash transaction according to your question so, most likely, the bank isn't going to pay for anything. However, that clause is there just in case; as the buyer, you always have the right to ask for repairs.
Pest inspections are recorded and a copy automatically goes to the seller/seller's agent. Finally, providing verification of funds to close is a buyer obligation because there isn't a lender that has provided a loan prequal/committment as proof of closing funds.
BTW, your agent can request a copy of the last recorded security instrument to see who the beneficiary/seller is.
your offer. They can say how much money is to be held in escrow and who holds the funds. As far as inspections, I thought I read where you said you were buying as is. You do not have to give them copys of your inspections, As far as escrow, are you using the term escrow to mean closing company, yes they can say who will do the closing on there part, but ckeck with your state law, In my state, the buyer and seller can close with two diffrent companys, You need to seek legal advise from an attorney in your state. They might be a loop hole with bank owned properties that they can require you to close with who they choose, But I am not aware of that, Most closings in my state with regards to repos are done by the same closing agent, for both buyer and seller, but the buyer has the right to have there closing atorney to look over all doc's
I'm a Broker who used to own a Real estate office in BC and I've done REO sales for years- I live in one now! You need your own agent to protect you, however, it is common for bank to require that they pick the title company and to require "proof of funds"- but just enough to close escrow. I assume it's cash only because of a county issue: talk to the county so you really understand what they expect to resolve the problem! Yes, it is in the standard contract that you give them a copy of your inspections. IF you want an opportunity to renegotiate the price when you know all the facts about the property, you do it as part of giving them the reports when you Release your contingencies.
Best of luck! It's a process that's risky and could entail great rewards if properly handled!
Molly Thompson, Broker Associate, APR