Negotiate 1-2-3: Golden Rule Ethics
Here is a simple scenario that presents you with choices that are not simple at all. It states three optional approaches you might pursue. While none may be exactly what you would do, choose the one that comes closest to how you would respond.
Imagine the following situation: You’ve been looking for a vacation home, nothing fancy, just someplace to get away and relax. You’ve done a thorough search in the region. Everything that meets your needs costs at least $200,000, sometimes much more. But you’ve just stumbled upon a handsome cabin by a small pond. The hand-painted sign says “For Sale by Owner/Inquire Within.”
The elderly owner shows you around. The place is perfect. When it comes to talking price, the person apologizes and explains that they are moving back to the city to be close to their grandchildren. Living there will be much more expensive, they explain, so they need to get every penny they can. You are shocked, then, when they only ask $150,000—which is way under market value. Assuming you can protect yourself against any and all unpleasant surprises —a lien on the property, for example, or environmental problems—what comes closest to what you would do?