Would I like to report a listing?

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When I buy a radiator, I pay and the next day the seller contacts me saying it's not available and I should wait 45 days, otherwise he'll refund me! But he still has the listing active for the same product even though he doesn't have any left. Basically, he takes payment without having the product available. I wonder, is this allowed? Now I have to wait for his refund and lose a week to buy it again?