What happens if I don't renew my domain in time?

The day your domain expired it enters a 42 day grace period. During the grace period you can renew the domain at normal cost. On the 43d day after domain expiratin your domain enters the 30 day "redemption period". During redemption period we can attempt to get your domain back however there is a $200 fee to do this. Alas once redemption period is over the domain enters the final 5 day pending delete status. There is no way to retrieve a domain that enters pending delete. Once the domain name exits pending delete status the domain is released and can be registered again by anyone.