Domain name expired, when I can I buy?

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There is a domain name that I wish to buy that, here are the relevant dates for the domain.

Relevant dates:
Registered on: 20-Jan-2006
Renewal date: 20-Jan-2008

Registration status:
Renewal required.

Now I have tried to buy this but is still "registered" when does it become available to buy?
 
It's going to be suspended first before it is dropped, at which point the registrant will probably realise they forgot to renew and renew it. When it is dropped, if it's a ranked or memorable domain, chances are the dropcatchers will have it long before you do :(.

Sorry to be the voice of doom.
 
A domain name that is not renewed immediately enters into a 40 day 'quarantine' period. It is only at the expiry of this period that it can be purchased by someone else.

EDIT: Adz has a good point - nowadays it's a bit of a race - one in which the people who win are likely to be using an automated system
 
As a rule the drop process usually works along the lines of:

1. Domain expires and begins 40 day Grace period where a standard renewal can be made.
2. 40 days of grace pass, Registrar deletes the domain from their database and asks the Registry to do the same.
3. Registry holds domain in 30 day Redemption Grace Period.
4. Domain enters 5 day deletion process, and redemption is no longer possible.

So generally speaking, 75 days after a domain expires.
 
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