The most important thing is to check the backlinks. Use register compass or PR powershot to find them quickly and to get other metrics.
There are several tools available to check the domain expired or not. You also can check in bulk. I will suggest for BulkSEOTools but you can also search in google and enjoy..
domaintools.com is a good idea to do this, but I really didn't use any tools that can check for example 100 domains at all...
It's very good site to check expired domains and use filters to get best results. Also you can open Godaddy Auction account where also you can find expiring domains.
Here -> http://www.expireddomains.net/godaddy-expired-domains/ ... Just filter the PR and check the domains that are ending soon. If you feel a bit lazy just check backlinks of the domains that has bids. Do a quick check using moz opensiteexplorer and seomajestic. If you see good backlinks, do a thorough check using SEO spyglass (free). To make seo spyglass faster, uncheck everything and only check 'Page Google Pagerank". Then highlight all URLs that have PR1+ and run again to update backlinks. Again uncheck everything and only check 'Page Info'....
@RBaghel Thanks for the information. If i have registered with godaddy means i can check. but what abput other hosting sites?
You also have to register for godaddy auction and there is a small anual fee for this. FOr hosting, get a different host. Don't use SEO hosting. You can find different cheap hosting here webhostingtalk.com