I know this is an OLD thread, but I noticed no one when into detail with regards to specifics. First, the only program that requires a Termite Report now (other than if your agent made it party to the contract), is a VA loan. Conventional, FHA, and USDA do not require a termite reports unless the Appraiser notes substantial subterranean wood destroying pest damage. Then the Appraiser will state, "Termite Report recommended" and it is at the discretion of the underwriter whether to require one. As far as who can pay for the report and repairs? VA loans are the only loan product that restricts a buyer from paying for the termite report AND any repairs. All other loan programs the buyer or seller can negotiate who pays what.
Best of Luck!