I have my eyes on a domain name that is expiring in a few days. Does it get completely dropped from the system when it expires? Or is there like a grace period? Thanks.
Yes, there is a grace period of almost 30 days. However, this duration may vary registrar to registrar. After this grace period, there is a redemption period. If you renew the domain from the redemption period, you will have to pay extra fee in additional to the domain renewal fee.