Good luck on your new job and your new home. I am not from the Bay Area, but have a lot of experience working with the banks. Banks generally want a VERY FAST, no strings attached purchase offer. I seriously doubt that they will take a contingent offer on the more desireable properties in their portfolio. On a whole different subject, make sure that price and market your home aggressively. Needing to move mid-July and having just placed your home on the market last week, you have not left yourself much time, especially with the current high inventories (ie competition) and high days on market we are experiencing across California.
So, have you considered alternatives like:
1. Line of credit / gap loan against your home to help you buy in the new location.
2. Lease option on a non-REO property to buy you time to sell your home.
3. Leasing out your current home (if you can get high enough rents to cover your payment) to free up your cash flow
4. Doing a Lease/option on your home.
5. Any combination of the above that makes sense and gets you closer to you final goal.
In this market, good price, creativity and (unfortunately, due to your short timeframe) patience are needed at both ends of a buy / sell deal. Those who can command all three win.
Wishing you many happy years in your new location and Dare to Dream.
Real Estate Consultant
RE/MAX Palos Verdes Realty