You have to send first.
Public service announcement:
When you trade OTC you engage in a transaction with people you possibly know nothing about. You may send your BTC to the person, and never get anything back. Or you may send your $currency to the person expecting BTC, and get nothing in return. This is a highly undesirable outcome for you, and you should do your best to guard against that. If you do not have a history of previous transactions with this person, or otherwise do not trust your counterparty, there are several mechanisms you can use to mitigate the risk of fraud:
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http://wiki.bitcoin-otc.com/wiki/Using_bitcoin-otc#Risk_of_fraudSince fees on Liberty Reserve transactions are reasonable (1%) using a third party escrow works for this. A trusted escrow partner would likely be found on #bitcoin-escrow in which the #bitcoin-otc Web of Trust (WoT) can be used to see the escrow partner's trust history.
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http://webchat.freenode.net/?channels=#bitcoin-escrow -
http://webchat.freenode.net/?channels=#bitcoin-otc-foyer -
http://bitcoin-otc.com/viewratings.php
