You can create a new character with the old name within that time if you want to keep it.
Your character must be at least level 10.It may take up to 72 hours after payment for the Race Change to complete.
Note: Wait at least 30 minutes before logging in. All sales are final, and the only way to reverse the process is to buy another Race Change after a 3-day cooldown. You can purchase a Race Change to change the race, but not the faction, of a character.