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A domain should be renewed before its expiration date. If the domain expires, you can still renew it after the expiration date for a certain grace period (typically 30 days).
If you do not renew the domain within the grace period and the domain is not purchased during the expired auction period, then the domain is deleted. Dynadot would no longer control the domain name and it can no longer be renewed. After a certain redemption period (typically 30 days), the domain is released back to the public and anyone can register it.
If you decide you still want the domain within the redemption period, you need to restore it. This is a time-consuming process that is not automated. We actually have to submit paperwork to complete the restore. Most of the price you pay goes to the central registry, not us. All restores include a 1-year renewal.
A domain restore should not be confused with a backordering service. A domain restore is for domains that have been registered by Dynadot, but were deleted after the renewal grace period since the owner did not renew the domain. This is only for our customers who wish to restore a domain they had registered with us, but forgot to renew the domain after it expired.
See our TLD List to find out the renewal grace period of each domain extension.