Advice requested to buy In laws

[Jeremy Zollin]

Advice please:

Was trying to buy In-laws house with VA. Fell through 3 days before closing because they were behind on mortgage- they didn't know they were that far behind(considered bail out- since they weren't moving out as we are moving in to help them as their medical is getting worse). Catching them up also pays off their loan.

What is the best way to complete the purchase? Intent is for them to get money out of the sale as part of their retirement plan and for us to get the house in our name to avoid future family drama.

We were given 2 options when they told us no- #1 pay them up (off), quit claim deed to add us, then in 6 months cash out conventional refi. #2 pay off/ see if a local bank would touch the sale knowing they were behind recently.

I also have an LLC I just stood up but in Texas for real estate.

Is there a third option? Could we do seller financed with a year before payment due and after 6 months cash out refi- pay off seller finance? Would a bank touch that? Would the VA?

Could the LLC take ownership and refi faster or would there still be 6 month seasoning? Would there be additional filing requirements for the LLC taking possession of a property in LA?

Any advice POC or guidance is appreciated.