Villas-Boas said work is ongoing on the contracts, and added: "I'm not sure how long it is going to take. It can happen very, very soon, it could go to the last day (of the transfer window), it could happen in the next two days."
Bale is, according to Sky sources, angry with Spurs for delaying his move to Real and failed to report for training on Tuesday and Wednesday.
And whilst Villas-Boas is sympathetic about the delay, he says Bale's behaviour is "not correct" and is considering fining him.
Villas-Boas said: "He is involved in a big transfer move to Real Madrid and in the end if it happens, we wish him all the best - what he left here was great memories. But the fact that he hasn't turned up is not the correct behaviour...
"That is the position they (Bale and his representatives) chose to take and it's up to the club to decide if it's a fineable offence."
Asked if he personally felt let down by Bale, Villas-Boas said: "No - I think he obviously had a great season. What is happening is a dream move for him.
"In the end there will be a three-way agreement. Tottenham will accept the biggest deal in world football. In the end I think, if Tottenham accepts it and everything goes all right it will be the end of the story."
Spurs were reportedly furious with Real for erecting a stage in their stadium at which they were expected to unveil Bale on Tuesday.
And the Madrid giants had been selling shirts with Bale's name on the back - through they have now stopped doing that.
Villas-Boas was unfazed: "They can do whatever they want. Whether it was responsible or irresponsible, I really don't care."