Hi Chaps,
I have found a nice summary at
www.domaindale.com - copied below in case anyone needs it later.
They recommend getting an account at the same registrar, so I have done exactly that and bought a .com I have little need of! I hope the registrar is okay - I called their phone and it said 'number not in use' - we'll see.
Cheers
Luke
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Step1
Usually domains are paid for one or more years in advance (term period). Since owner (seller) is selling the domain to someone else, then the buyer will take over the domain in the middle of the term period. Any remaining time on the domain will not be charged to the buyer. When the domain name comes up for renewal, the buyer must purchase another 1-year term prior to the expiration date.
Step2
If owner's domain name is registered with coolcom (owner's service provider or registrar), for example, then the buyer will need to setup an account with coolcom. It is best to transfer a domain name between account holders within the same registrar (coolcom in this example). Afterward, the buyer can transfer it to another registrar of his/her choice later, if desired.
Step3
Owner (seller) must first disable domain lock or domain protection (not required for .ca extension) or else the domain cannot be transferred. Owner (seller) must also disable domain privacy or else you will not receive the email with the authorization link. Finally, owner MUST make sure his/her email address on file is accurate and current or else the owner will not receive the email with the authorization link.
Step4
a) To transfer the domain name to a buyer, the buyer must initiate the Transfer Request through the account that is already opened by his/her request to the same service provider (registrar) as the owner's (seller's) registrar.
b) The transfer request MUST be initiated by the buyer not the current owner (assuming payment process is complete).
c) Here are the buyer instructions: Login to your account. Click on the "Transfer A Domain" link (each registrar has different format and web page design, it might be needed to ask the registrar for the instructions). Enter the domain name that you wish to acquire. It will let you know that it is available to transfer. Select the option that says you are the person requesting the domain to be transferred to your account and submit the order. There is usually no charge to transfer between accounts.
Step5
The registrar (same for both parties, now) will send an e-mail notification to the current owner (seller). It will ask for owner (seller) approval or authorization to transfer the domain name to the buyer. Owner have usually 14 days to respond otherwise the request will expire and the owner (seller) will retain the ownership of the domain name.
Step6
Once the transfer is approved (by seller), the domain name will change ownership. The domain name will be removed from seller's account and will be added to the buyer's account. Then the seller is no longer the domain owner. From that moment on, the buyer is the official account holder and owns the full rights to the domain name.
That's all folks!
