How Long Does Ranking Last?

enzo-seo

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A competitor of mine just went out of business. We are in a very competitive market and his site ranked many pages on the first page of Google. Since going out of business his site has gone down (within 30 days). I have acquired his domain name, but his sites database is gone so I cannot put up his exact site. I do have some of the content that was hard coded into the HTML Files. I will be putting up a site with similar content, as well as some of the old content I have. I will be 301'ing all the old links. Here are my questions.

  1. How long does Google retain a pages juice once it fails a spider check? If the spider comes around again and another site is there, will the full page value be awarded?
  2. I know that once the site changes a whole lot of factors change for G to rank the page on, but how likely is the old link value going to transfer.
Thanks for any insight into my situation.
 
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