Transfering H1B


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I already have an active H1B that goes till March 2014. My current job is a research postdoc in a land grant university that goes till Aug 31, 2013. I have an offer from another land grant university located in south. I was wondering, how long does it take to transfer H1B visa (in this case from one university to another university) so that I can decide about my joining date at the new place. In case it takes more than two months, then can I stay in the country after Aug 31, 2013 waiting for the approval from USCIS? Any suggestions will be greatly appreciated.

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