Assuming this is a .com - you can expect the transfer to complete in about 5 days (total).
The .com transfer process is:
1. Provide EPP (auth. code)
2. Email is sent to domain registrant (as per whois) to confirm auth. of domain transfer
3. Domain is released by current registrar to new registrar (which usually takes way too long! ~ 3-5 days)
Hope this helps
