The whole process in outline.
FOR A FIXED-PRICE SALE
The buyer pays the listed price Payment is confirmed The transfer is arranged The sale completes The seller receives the proceeds
FOR AN AUCTION
Bidding runs until the closing time If the reserve is met, the highest bidder wins The winner pays The transfer and completion follow as above
FOR AN OFFER
The buyer offers a price The seller accepts, declines, or counters If accepted, payment and transfer follow
WHAT HAPPENS BETWEEN PAYMENT AND COMPLETION
The domain is moved to the buyer.
How that happens depends on where the name is held.
WHEN THE SELLER IS PAID
After the transfer is confirmed complete.
Not at the moment of payment.
WHY
That protects both parties. The buyer's money is held until they have the name.
WHAT IF THE TRANSFER FAILS
The sale does not complete, and the position is resolved rather than left.
WHAT TO EXPECT
Notifications at each stage.