If your domain name expires, then your site will show an advertisement page.
A WHOIS lookup will reveal that the domain expires in the future, but was updated a day after it renewed, and the nameservers are changed. (The nameservers will automatically revert back when the registration fee is paid.)
You have 29 days (renewal period) to pay for your domain name. You can keep and renew it at the regular price.
*You have an another additional 30 days to keep and renew it. This is referred to as the redemption period,but it will cost extra to renew (at $100 or more depending on the domain extension) during this period.
If you have not still renewed the domain after the 30 days of the redemption period, it then enters into a pending delete period of 5 days. At this stage, you can no longer renew it and you risk losing the domain to another buyer.
* This applies to non .us domains only
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