private car sale

[zzmanzz]

What is the name of your state? MA

I went to a private party to buy a car about 2 weeks ago. The day i test drove the car everything was good and I gave the seller a 500 dollar deposit. Contract was signed for the remainder due. However I could not get a loan and finance the 20,400 dollar remainder. Seller was informed about this 6 days after the contract. He told me he would not refund the deposit because he is at loss for having taken the car off the market for 6 days and having potential buyers. He said he would rather put the car back on the market and if it sells for the amount he originally had listed it as he would give me my money. He put it back in the classifieds and a week later I called him, he said still no sale. When I requested my money back a second time he said hes going to sue me for the remainder of the money for the car and if he doesnt get it he's going to claim damages. What would be my best step in this situation. I have a legitimate reason why I could not follow through and do not feel he should collect my deposit.

 

[pojo2]

Does you contract not address what would happen if you could not get financing?

Anyone, anytime, anywhere can sue you for anything but can they win?

 

[JETX]

Contract was signed for the remainder due.

What EXACTLY does the contract say about your 'obligation' to purchase?
What EXACTLY does the contract say about your 'deposit'?
What EXACTLY does your contract say about your financing??
(get a hint here..... it all depends on EXACTLY what your contract says).

When I requested my money back a second time he said hes going to sue me for the remainder of the money for the car and if he doesnt get it he's going to claim damages.

What 'damages'?? He still has the car!! You are the only person who has been 'damaged' (by the loss of your deposit).

What would be my best step in this situation.

Your 'best step' is to ignore the idiot. He has no claim against you other than to keep your 'deposit'... and even that is if the agreement doesn't have a 'financing clause' (making the purchase contingent on your getting financing).

I have a legitimate reason why I could not follow through and do not feel he should collect my deposit.

What EXACTLY does your agreement say as to the deposit??