He's no longer a seller because eBay kicked him off.
Ebay says I have to wait 3 days, even, if they are no longer a member.
Did you get an eBay Message about this when the transaction was cancelled?
Or did you phone Customer Service?
If it was by phone-- you were told sweet nothings to get you off the phone.
The dispute period is 96hours (four days) or 48 if you are in the USA. So the rep, if any, was wrong as usual.
Your payment is still in the "clearance " process which is why it takes a few days to tidy up.
Keep your eye on your Paypal balance for the refund.
In addition to eBay's Money Back Guarantee, you are covered by Paypal's Buyer Protection and by the chargeback policy fo the card you back your PP account with.