Yesterday I used the GoDaddy “buy it now” method for a domain listed in TDNAM, which I liked. It was reasonably priced and instead of risking further back and forth with the seller, I promptly paid.
The domain is registered with GoDaddy and despite the WHOIS protection on it, I can easily locate the seller using DomainTools.
However, 24 hours later, the paid-for domain is not in my account yet.
Calling support rendered the following answer, in a nutshell: GoDaddy notifies the seller that they have the cash and that he should be initiating a transfer to their escrow account. Once that is performed, they release the payment and push the domain to my account.
Somehow, perhaps in a naive way, I was under the impression that once GoDaddy gets paid, they enforce the transfer of the domain to my account, as the domain’s registrar. It seems, that the process can now take “a couple of days, or more” – pretty much relying on email communication with the seller to perform their part of the deal.
As I definitely want the domain and not just a refund – which might come in the form of GoDaddy credit – I am not too thrilled with the process, but I will wait it out and post the results here.