Many will work on contingency, taking a percentage of the final claim amount.In the meantime, you'll want to secure the property to prevent vandalism, further damages, or injuries.

Does anyone know of any specific banks/institutions that will provide this service/are there any other strategies that I could use to obtain financing?

But the buyer wants the property at zero down.First leg:-- Buyer secures a loan (1st position) for $350K and sends to title company (this is the amount needed to pay off sellers loan + their required cash at close)-- Buyer also sends $650K cash to the title company (can put in your own cash, or do a temp loan from a transactional lender)-- First leg of txn is now complete, and the $1M stays at the title company (this is bc you customized escrow instructions upfront to instruct them how to disperse money before escrow began)Second leg:-- Buyer and Seller enter into an agreement through an LLC which allows them both to be on title, and seller agrees to seller finance the buyer $650K of the purchase price (on whatever terms they agreed on).

Survey of mortgage terms (click to enlarge):From left to right, 1.25 points, 1.5 points, 1 point but $41k in fees.Prepayment penalty: 5 years declining, none, 2 year lockout followed by 10 years defeasance.Commentary/review/discussion: I tried to provide three very different options here, but all still real ways that people actually acquire such assets.

This is all the data your real estate agent can provide.

Most national or mainstream mortgage lenders do not offer Super Jumbo mortgage loans (typically above $1.5-$2.5M) Although Super Jumbo Loan Lenders can provide loan amounts from $3M-30M+The majority of these buyers obtain their mortgage recommendation through their real estate professional or frequently through their existing private or premium banking relationship. 

They may need to access cash or move to a more suitable living situation.Tax Liens or Legal IssuesOwners facing tax liens, legal disputes, or other complications may want to sell their property fast to resolve these issues without further financial or legal consequences.Burnt-Out InvestorsReal estate investors who are tired of managing properties, dealing with tenants, or facing constant repairs may decide to liquidate their holdings quickly to invest in other opportunities or simplify their lives.Understanding these motivations can help you tailor your approach and offer solutions that address their specific needs, making it more likely you'll secure a deal. 

Regarding if you should DIY manage or hire a PMC:Many new investors read a couple of posts and then think self-managing their rental property, and avoiding PMC charges, is an easy way to boost their ROI.The reality, is that many of these investors really haven’t taken the time to properly understand what it takes to properly manage a rental property and the corresponding tenants.Here’s a list of some of the requirements to properly manage a rental property:Knowledge of all local municipality, state and federal landlord requirementsIntimate knowledge of all Fair Housing statutesUnderstand all federal privacy laws, as they’ll be handling social security numbers and IDsProper business insurance in the event their computer is hacked and or they improperly dispose of tenant data.Where to advertise their rental, other than ZillowWriting ads compliant with Fair Housing statutesCreating a process to accept calls/texts and schedule prospects to show their rentalA rental application and application fees that meet all local and state requirementsKnowing how to screen applicants to avoid professional tenants and the growing amount of fraudulent dataA lease compliant with all local, state & federal lawsUnderstanding local and state requirements regarding security deposit collection and holdingRent acceptance options for tenants and accounting system to track, including late fees, etc.Plans to handle nonpayment of rent issuesKnowledge of their local eviction laws or access to an attorney familiar with evictionsHow to accept, track and respond to tenant maintenance issuesBuilding a list of handymen and contractors for maintenance and turns between tenantsExpertise at evaluating tenant damages to charge against security deposit when tenants move outResearching local utility requirements to avoid suspension of services that could lead to frozen pipes or flooded basements, etc.

If you're interested, I'd be glad to connect you with the NCREIA and provide further guidance.

If you have an oceanfront property, what type of grill are you providing your guests?