Buyer and I met up, and I still have to wait?

[Aaronlehrmann]

Hello! Today I sold a bike to a guy over facebook. He sent me the money via Paypal. We met up later that day, and I gave him the bike. Now he has the bike, and I need the money as soon as I can get it. Why do I still have to wait those 21 days?

[DPCreations]

You will need to wait if you are new to PayPal.

You will also need documented proof of delivery.  You will not have this with local pickups.  If the buyer files a dispute for non-delivery you will not have proof of delivery and you could easily loose.

It is important to NOT use PayPal for local pickups, espcially for items sold privately from Craigs List or Facebook; CASH is the only safe way.  Rationally thinking, why would a local pick use PayPal rather than cash?  Generally as part of a scam.