In this business often times I come up with what I think is a great domain name just to find out someone has already grabbed it up. There are many companies out there that buy hundreds of domain names and make a living off of reselling them. While I have had some luck in contacting companies and buying the domain from them for a few hundred or less there are other ways going about trying to acquire a domain name you really want.
If your like me or any other serious online marketer your domain name database continues to grow. It’s in this instance when it becomes harder to manage all of these domains and keep on top of them. Many fall into the trap of not knowing their domain is about to expire and their payment on file is out of date. This is where you could scoop up the deal of a lifetime. When you search for a domain name you will be able to see the WHOIS information which will tell you about the person who registered the domain and when it is set to expire. Some of these expiring domains might be already past the date. This is due to domain registers allowing 30-90 days for the previous owner to grab up their domain again before anyone else can.
If the previous owner does not renew the domain here is how you can pick it up. The domain then has a chance to be bought by the domain register for example I know Godaddy scoops up a number of my old domains I no longer use that hold some value and puts them up on the market as a buy now. You can always contact the register company and barter with them for a lower price. But aside from that you can place an order known as a backorder. What this does is gives you first rights to the domain once it goes to expired and is up for grabs. It is also important to know that the register in which the domain is currently registered to in most cases has first rights to it. So find out where the domain is registered, set up an account there and backorder it there.
Buying expired domains like this takes a great deal of time, research and luck to be honest. But the rewards can be huge when you hit the jackpot of domain names. You can build your own site on top of already existing backlinks, PR rank, domain name or organic traffic.