Made an offer on a property and it was rejected

[Florina Villarde]

Hello,

I wanted to ask for everyone's input in this situation: we made an offer on a bank-owned property and it was rejected. The offer wasn't super low and the property has been on the market for a while. Our thought was that if the bank believes the offer is low, they will counter-offer. The rejection was totally unexpected. We really like this property, but unsure how to proceed in this case. Should we submit another offer with our final number? should we walk? If anyone would offer their expertise in this case, it would be greatly appreciated.

Thank you kindly.

Florina