There are five phases of a domain lifecycle and expiration:
Phase 1 - Active 1-10 years , the moment you will receive notifications before your domain expires.
Phase 2 - Expired 1-45 Days after the domain expires, you can notify the renewal within 45 days. Visitors to the site will not find a destination. People who email this domain will be bounced for not finding a destination either. Domain owners can also request renewals with the same registrar as usual. After renewal, you will have to wait 24 hours for your domain to log on to the Internet and start using the space normally again.
Phase 3 - RGP 30 Days , the domain is then held for 30 days. If you want to get it back, it will cost a lot of money because the domain will be floating off the Internet lately. Not under the supervision of any other note recipient. If the domain owner wants to continue to renew the domain, it will cost you to pull the domain back at an expensive price.
Phase 4 - Deletion 5 Days Wait before releasing the domain to market.
Phase 5 - Available , the domain name is no longer available on the Internet. You can register a new domain again. If you're lucky, no one's going to take it first.
Life Cycle of a Typical gTLD Domain Name
(Ref: https://www.icann.org/resources/pages/gtld-lifecycle-2012-02-25-en)