i unlocked my godaddy domain and paid for a transfer and i dont want to leave it unlocked for too long. just moved and want to get started setting up my dynamic dns ( i used noip at my previous address, but i dont want to have to point a top level domain to a third level domain, to my ip.

When the correct auth code has been supplied. The domain transfer will be in 'Pending' status and there is no further action needed from your end. The current registrar has a choice to push the domain through to the new registrar right away or they can do nothing and the domain will be transferred to the new registrar automatically after 5 days. So it depends on how the current registrar acts and this is the same procedure for all domain transfers across any registrar.