Would someone explain in detail the best way to locate and purchase expiring domain names.

There are various software products on the market, personally I like http://www.deleteddomains.com/

__________________
DomainHabit.com

THank you,
I'll check it out. I also found out tonight that there is software for this as well.

http://dopedomains.com/ - This site aggregates results from several different auction sites (with sites at buy it now prices starting at $5) and mashes the list with traffic data, backlink counts, Google Page Rank, Google Cache, and Internet archive results.

I've found it to great research tool and have found several traffic laden sites for $5.

-JasonR