Why it matters
Registrar lock is the standard safety switch on a domain. Sellers must unlock it before a buyer's registrar can pull the domain. Leave it on until the sale is ready to close, then unlock it and release the auth code. A common mistake is forgetting this step and stalling a sale for days. Do not confuse it with registry lock, a stronger, manual service from the registry that costs extra.
Source: icann.org
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