The Spurs boss has indicated the Welsh star may be confirmed as a signing at the Bernabeu in the next two days, but would not be surprised if there continues to be delays
Goal understands Spurs and Madrid have reached an agreement over an £86 million deal for the 24-year-old.
And the Wales international now finally appears set to secure his long-awaited switch to the Bernabeu, after Villas-Boas confirmed that the two clubs are in advanced talks over a transfer that will break the world record.
"At the moment the two clubs are speaking," Villas-Boas told reporters. "I'm not sure how much time it is going to take. It can can happen very soon, it might not happen so soon.
"I suppose it could go to the last day or it could happen in next two days. But you wouldn't expect the biggest transfer in world football to happen easily."
The transfer fee is anticipated to smash the existing world record, set by Real Madrid in 2009 when they paid Manchester United €92 million [£80m] for the services of Cristiano Ronaldo.
Bale's form in 2012-13 saw him complete a clean sweep at the PFA awards, with the Welshman winning the Players' Player of the Year and Young Player of the Year.
Bale joined Tottenham in 2007 from Southampton for a reported fee of £7million.