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Manually confirm orders


Vegaanders

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you can do what you want with bankwire, however with paypal it would require pretty extensive changes to the process flows.
you could create a custom module that is like a 'bill me later' option. it would allow the customer to place the order. Once you have confirmed the order, you would then manually send a paypal invoice to the customer, and manage the payment status manually.

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if the product is once sold out never re-stock, then the best ways is that you change you product stock timely.
if the product is out of stock., set the quantity to 0 and not allow to order

if the product will be re-stocked shorty, I think you can just display a message tell customer that it could be delayed in case of out of stock.

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You can set your paypal module to "Authorization/Manual Capture". Then the payment amount will be held until you confirm it manually in paypal. You can just add an explanation in the bank wire details for customers to wait until the order is confirmed and message the customers once it is confirmed, or better create a new order status with the message you want and manually change the order status.

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