Transfering Domain Ownership


Solid State Member
I've been thinking about attempting to buy and sell generic domains. One thing that I can't seem to find a clear answer on is how exactly I can transfer ownership of a domain to its buyer. What if they use a different registrar? Do I have to pay to transfer it to them first?

Also, I've been thinking of using Netfirms as my registrar. Is that a good choice?

EDIT: I've been looking around, and now I'm not sure which registrar to use. I'm open to suggestions. My ideal registrar would:
1) Cost less than $10 per year per domain.
2) Provide a free WHOIS cover.
3) Provide fast, paperless and free or very cheap (< $10) domain ownership transfers.
4) Be ICANN accredited.