Welcome to the boards!
When selling through PayPal, fees will apply for receiving the payment. The standard receiving rate in the US is currently 2.9% + 0.30 USD (1% additional if the buyer is outside of the US). You can review a full fee schedule by clicking on "Fees" at the bottom of any page.
To remove the funds from your account, you can either use them for purchasing other items or withdraw them to a bank account you've added (free; 3-5 business days) or via check ($1.50 fee, about two weeks).
If this is your first time selling, I would encourage you to take some time and review our Seller Protection Policy and the Tips for Selling Safely located in the Security Center, here: https://www.paypal.com/securitycenter
To highlight this protection, the item has to be shipped (local pick up does not qualify for protection), obtain online tracking, obtain online signature confirmation if you are paid over $250 USD, and I always recommend saving a copy of the label. Other terms may apply. Make sure you don't ship before being able to see the funds in your account (status of "Completed").
Also, you may want to use this article for research in the event your buyer shows warning signs: http://en.wikipedia.org/wiki/Advance-fee_fraud
I know that's a lot of information, but since this is your first time, I want you to be protected as much as possible!
Adrian
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