Alternatively, if you want to be ensured the best shot at buying it, you could consider contacting the previous owner of the domain, or registering with one of the domain grabbing services to see if you can get it that way.
Am I paranoid? I was in the same situation, but feared if I contacted the owner he would reregister and the price would go way up.
I unfortunately didn't know about godaddy. I checked whois almost every day for a couple of months. The domain expired end of May. It came available early August, the 10th I think, about 70 days later.
Some registrars must have different redemption periods. You'd think this would be written down somewhere, but I couldn't find it. I queried registrars, but received back formulaic gibberish.
good luck.. they are both good but Namebully.com is cheaper
[namebully.com...]
[snapnames.com...]
Then the name is put into Redemption Period, which lasts 30 days. During this time, the domain owner can still renew the domain, but at a much higher price to save it from deletion.
After 30 days in redemption, it enters pending delete where it sits for 6 days before dropping and becoming available for reregistration.