The owner can still redeem the domain, at a price ($80 to $200+ depending on the registrar).
Option 1: approach the current owner. Be prepared to make a decent offer that covers the out of redemption fee. There is a risk that the owner will suddenly see value in the domain and ask for a hefty price.
Option 2: wait until the name drops. Other people might have backordered the same domain. You could have to compete with other bidders in a private auction.