Ok, so I've been buying and selling on there for years. Every so often they change their policies to benefit either the buyer or the seller. Overtime I think some of their policies have gotten better and some have gotten worse. I recently sold and item on there and some person clicked "buy it now" and has not payed for it. The buyer has not responded and ebay won't do anything about it until after 48 hours has gone by. It should automatically without having to make any changes to your own account seller requirements make the person pay for the item immediately. This same person has gone around and done this to numerous people and there isn't anything I can do about it until 48 hours has passed. They won't respond to me or any other person. I did a reverse phone look up, came up different address in same city and different name. (An old woman, not a man) I think I'm going to stick to selling on places like here and buying off of normal sites from now on. Sorry about that, just had to rant.

Why not wait 48 hours?

He has feedback from other people that says buyer did not pay.

I've had bad luck with ebay lately. Had someone bid and win on an item and then change their mind and it's been such a hassle.
 
A while back, I sold something broken, AS-IS was clearly in the description as was "for parts or not working" and I was left negative feedback because the item didn't work. I called ebay and they couldn't do anything. I had to email the person and kiss their but to get them to retract their feedback so I could keep my 100%. Don't even get me started on paypal. At the same time though, I've gotten some really good deals before.

It just makes me really mad that I have to wait before I can re list it, even though I know he won't pay.

^Was just going to mention that, many occasions I have had to pay immediately when purchasing something via the Buy it now option or it wouldn't accept the purchase.

I bid... I buy.. then and there.  End of story. 
 
However, I've sold on eBay... and had an item returned because the buyer said it smelled like cigarette smoke.  (I live alone and don't smoke.)
 
Sometimes stuff is bought and used and returned after a complaint is filed.  Eh... I don't care.  People are pretty much sucky to me for the most part.