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what does status "Preparing transfer" mean?

Hello,

 

I'm a beginner here so I hope you guys can help me understand the status of a won domain.

 

I've bought a domain from GoDaddy Auctions 3 days ago. On the tab "won" of my auctions account, the domain status is "Preparing transfer".

 

I really want to know how long the process takes and there's the risk of the seller canceling the sale and I lose the domain name?

 

Thank you so much!

2 ACCEPTED SOLUTIONS
Super User III

It generally takes about 5 days after you pay the winning bid.  One of the main benefits of using a broker is they hold the funds until the domain is transferred into your account, then they'll release the funds to the seller.  Though it is against the terms of service for a seller to back out or change their mind after a sale, it is possible and there are protections in place.

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Hi @AlexNguyen,

 

Welcome to the Community!

Yes, at risk of penalty, the seller can "change their mind". It's very rare and depends on the circumstances of the domain listing. You should have a date listed on your auctions page for that domain delivery. If it is unable to be moved to your account, you would be refunded for the purchase. 

 

 

 

 

TLH - GoDaddy | Community Moderator
Supporting you at x.co/247support

View solution in original post

3 REPLIES 3
Super User III

It generally takes about 5 days after you pay the winning bid.  One of the main benefits of using a broker is they hold the funds until the domain is transferred into your account, then they'll release the funds to the seller.  Though it is against the terms of service for a seller to back out or change their mind after a sale, it is possible and there are protections in place.

View solution in original post

Hi Nate,

 

Thanks for your comment!

 

Does it means the seller can change their mind and refuse the transfering in this time? 

Hi @AlexNguyen,

 

Welcome to the Community!

Yes, at risk of penalty, the seller can "change their mind". It's very rare and depends on the circumstances of the domain listing. You should have a date listed on your auctions page for that domain delivery. If it is unable to be moved to your account, you would be refunded for the purchase. 

 

 

 

 

TLH - GoDaddy | Community Moderator
Supporting you at x.co/247support

View solution in original post