Does anyone know if it is possible to transfer a domain name away from its original registrar to a new one if it has expired the day before the transfer request is initiated?

I just realized that a domain we own expired yesterday and this morning i sent a transfer request to the registrar for the few domains we have over there still including the one that expired.

Is this expired domain actually going to transfer or should i renew the domain before the transfer goes through and, if i renew the domain prior to the registrar doing anything with the transfer request, is that going to throw things off for this one domain name?

Regards,

Lee