Lapsed UK Domain

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When a domain lapses, what is the time period for someone else to
grab it?

I'm watching a domain that lapsed on 5th July, wondering when the best time
is to grab it.

I don't think the company who had it are overly concerned about renewing it
but I'm a bit concerned that if I go too early, they might become aware of
somebody interested in it and decide to renew it after all.

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