Dee Dee
More facts please.
What was it listed at when you got the offer and what was the offer. If the seller is now sick about not accepting the offer, did you at least get the price dropped to that level yet, or are you going to play catch the falling knife by grabing where it was, instead of where it's going to be.
And the most basic info for any of us to give any advice, what is the sellers motivation to move and what is your motivation to keep an overpriced listing?