Contract law: invitations to treat (1). An invitation to treat is an invitation for customers to submit an offer, and indicates a willingness to deal. This short quiz trains the vocabulary of invitations to treat. Please purchase the course before starting the lesson.
Buyers have 4 days to pay before you even think of opening a dispute and most good sellers allow 7 days. Do NOT offer for 2nd chance until you have resolved first sale or you may end up with 2 buyers and get negative feedback.
I primarily do fixed price listings, and give the buyers 3 days to pay from the time they purchase the item or the time I accept their offer. You can open an unpaid item case after 2 days, and the buyer has 4 more days after that to pay - that will get you the eBay final value fees back. I'm not sure how it would work with a second chance offer, though. To be honest, a second chance offer at this point likely isn't worth it.