Orangeblossoms has it right - same as I recall. Only thing is once you pass the grace period, the registrar can decide to hold the name for themself, or sell it. I once stalked a domain name that I had a hunch wouldn't get renewed. Went through all phases, then GoDaddy put it on their marketplace for auction. Bought it later on after it was free The point is - if the name's valuable, don't wait. If you can stand losing it - I'd give it a shot and wait
