help with structuring this deal

[David Sanford]

I have this offer to buy a house valued at $150k, with a purchase price of $115k. seller said he would finance for 9-12 months then a balloon payment for full price would be due. how can I execute this? can I get it in my name then let it "season" for 6 months and do a cashout refi and pay him off? any other strategy I could pitch? any reccomendations are welcomed!