Generally nowadays there is no actual "Transfer". The process normally is just a push to another account at the same Registrar. Each Registrar has their own process, but they are all pretty easy.
Yeah. Generally with all the bigger name registrars like GoDaddy, Enom, Network Solutions, Moniker, etc. that is how it works. Each of them have their own process of how to do it though.
The only time you really have to worry about a transfer is if you have some obscure registrar, and the person wants to transfer it to their registrar.
If someone buy's the domain and they don't already have an account at domain.com then they can create an account. You are then able to push the domain to their account.
The authorization code is used for transfers to other registrars. Once the buyer has paid for the domain then you give them the authorization code which they inturn input into their registrar to initiate the transfer. Once this is done you should get an email asking if you authorize the transfer. There is usually a link in the email which you use to authorize, once this is done the transfer can proceed.
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