We can live on just my salary and also have an emergency fund that will last us for about 6 months if we would both loose our jobs.Would you advise to continue with buying this property, should I try to negotiate the price down due to the uncertain situation, or should I totally back out and take my escrow losses and look again when things settle down?

Would you consider the notice the beginning of march plus 60 days or am I right to consider May 28 as thats what he advised me ( by the way, the march 28 plus 60 days equals the May 28)?

@Mark Gutierrez   I am a Realtor/investor/Hard Money Adviser in Tampa, Florida.  

All online services allow for them, but I'd advise against them.

Once we have some more info we can better advise you how to make this deal work in Peoria.

However, every article I read says it's not advisable to take from an IRA.

I, like probably everyone, would advise to avoid bankruptcy.

I learned from this forum that I would need a private lender and a bank to refinance my deals; please if you invest in Delaware or have done this before could you advise in how to get started? 

I learned from this forum that I would need a private lender and a bank to refinance my deals; please if you invest in Delaware or have done this before could you advise in how to get started? 

The sellers more than anything understand and sympathize with the circumstances more than wanting to force a sale, but really I advised them Not to jeopardize the sale, go along with the extension.