Jazz of Negotiation: What's Fair?

Instructions

In the scenario I posted Tuesday, I asked how you'd deal with an elderly owner who is selling a beautiful vacation cabin. You'd love to buy it and know it's worth much more than the asking price. Of the three options below, choose whichever one comes closest to what you would do.

Remember there is no downside. You can draft a simple offer to purchase the property that gives you full protection if there's any problem with legal title to the property or its physical condition. I'm looking forward to seeing your choice and reading your comments!

Thanks, Mike

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* 1. How would you respond to the owner's asking price of $210,000?

A. Quickly accept the asking price ($210,000).

Counter with a somewhat lower number, figuring you can always agree to the $210,000 if necessary.

Inform the owner that you want to buy the cabin, but you believe they have undervalued it.

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* 2. Optional: If you have a comment or a question, enter it here.

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* 3. Optional: If you like, enter your name and email here.

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