Godaddy issue with snagging?

[cookies186]

I think I'm going to be ill. I just picked the perfect domain and searched it on godaddy. Then I thought well this other place would be cheaper. I registered it at the other place and it ended up being a transfer because I think godaddy puts it on hold when you search it (do they?) and now I have to wait for the EPP code from godaddy. WTH? Can they do this? Will I be stuck without the domain or will they transfer it?

Thanks