Check with your Realtor and get advice on the best strategy. Maybe it's to leave your offer in. Maybe it's to withdraw your previous offer and submit a new one.
The problem with this is that it may all of a sudden cause multiple bids on the property. Of course, since you indicated you were above the price reduction you may still be in good shape. You should call the agent to find out what is going on.
Best of luck.
Long & Foster Real Estate, Inc
Lehigh Valley Office, PA
Did you make your offer through a good Real Estate agent? If so, what is their advise? If this is a bank owned property listed on the MLS, it does not make sense that they would not even get back with you. If you do not have a Real Estate Agent looking our for your best interest, my suggestion is you look for a good agent that can help you navigate through the home buying process.
Happy holidays and best of luck buying The Right Property at The Right Price.
Feel free to visit my website and use some of the tools I have for homebuyers.