Is paypal $ released as soon as you get it? like selling on ebay?
 

If im selling something on ebay, like a $500 laptop, and I have just that $500 in my account when I get the payment, can I use it to buy another laptop 10 minutes later?
Or do I need that the payment 'clears' in some way...like waiting that the buyer actually receives the item? are there such procedures in place?

Normally, it's cleared right away. Account-to-account transfers are generally instant unless one party has "issues" with paypal (which are unfortunately all too common for no bloody reason except that paypal sometimes like to sit on your money to collect interest on it).

If its an echeck or one of those things, it takes a week to clear. Otherwise it is instant

The funds should be available for immediate use, but technically they're never 100% cleared since the buyer can claim you didn't provide the product, or do a chargeback on the transaction that loaded their account...

They don't just take the funds from you. Since Paypal and Ebay are owned by the same company, they do a bit to make sure everyone is protected.

If I send something and can prove I sent it, they are not entitled to getting their money back. And Paypal does not retract it from my account.

I've never had an issue with Paypal, but I don't let funds accumulate in my PP account for more than 24 hours.

Sometimes (very rarely) the funds can get suspended for a day or 2 because of "suspicious activity"... if there is nothing shady going on they'll release the funds in a day or 2...

I just sold a GPS on eBay and had to wait 21 days or until they left feedback.

I only have like 30 or so feedback on my account so that might be why, not sure off hand