If you are really serious about this particular unit, I'd re-send the offer but increase it quite a bit - sorry, I know this isn't most probably what you want to hear but I'm trying to help. I really do recommend you use a Realtor, then they can advise you on a property by property basis by researching each individual property and understanding the motivation of each seller. Every seller has their own situation - some can afford to hold out, some are more motivated than others etc. etc.
Best of luck Ron,
Villa G Realty, Inc.
Your next strategy ought to be this - find out what has recently sold in the area and for how much. Work with a realtor or figure out a way to do it yourself (even though, in our state, the seller pays the commission for both sides of a sale).
Seeing how you are from Toronto, I suggest you locate a realtor. A realtor worth his license will know have both the tools and experience to help.
What part of Toronto are you from? I use to live in Stoney Creek - but grew up in Montreal. Having a place to call home down here is a great idea, but don't go it alone. If the property is one that your wife loves, don't miss out on it. Good luck.
It sounds to me that you need a qualified realtor to guide you in offering the proper price for the property you want. It is obvious that the seller found your offer out of the possibilities. If I can help you with the negotiations please feel free to contact me, I am happy to help you.
Judy - EWM Realty