What happens when you buy an item and pay for it straightaway via paypal then ebay takes it off say

Hello, we brought an item on ebay and payed for it straightaway via paypal. The item has been taken off by ebay saying it is no longer available. The money we sent has come out of the  bank account and is waiting collection by the seller, but it has not been collected. How long do they wait before giving our money back. The item  hasn't been posted and a tracking no. has not been sent. I hope you can help me. Many thanks Robyn...

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