I (as a buyer) had a Craig's list transaction that was dead for two months. I made email and phone contact to get product/condition info on a recurve bow-all good to buy. Sent USPS money order. NOTHING for two months (no returned emails, no phone pick-ups. I was only able to leave messages (I.e. "What's the status of the bow?").
Finally I contacted my local police. They said this case was "theft by deception". I filed charges on my end. My police dept contacted the seller's police dept.
Low and behold, I had the bow in my hand 4 days later. Never received any contact from the seller.
Worked out overall, but it was a pain for two months. It was a 1959 Kodiak Special (68" 40#), and I really wanted it. It is now my favorite bow, but what a hassle.
I have little tolerance for liars, cheats and thieves.
If your buyer is "swamped" by personal issues, well, life happens. The buyer has an absolute responsibility to make alternate plans with you to a satisfactory end point. Have him pay up, or ship the bow back. Neither of these options take much time.
If he is not working with you to resolve the transaction, give him one last call and email (written documentation, with proof of receipt of email) that you will go to the authorities if full payment, or the bow in original condition at sale time, is not received in 5 days.
It's not your fault this guy is dragging his heals on finalizing the sale-for whatever reason he has. It IS the buyer that must act quickly. If not, then go to "plan B", the cops.
Lastly, don't ship an item without payment in hand.