He told BBC Radio Leeds: "We've had some discussions which I think went very well.
"We're still talking, and I don't see there being too many problems but I can see it being two or three weeks to come up with a final decision."
The former England Under-21 boss confirmed that he had been speaking to joint chairmen Julian Rhodes and Mark Lawn, but believes his salary will not prove a sticking point.
I would love to get Bradford up a division at least
Peter Taylor
"I don't think my personal situation will be a problem at all," said the Bradford manager.
"I want to commit myself to Bradford to get a promotion, that's what I want.
"It's more then what we can do on players and how we prepare, because I want to be competitive.
"I would love to get Bradford up a division at least but for that we need to have the tools."
Taylor's hand could be strengthened by his record since taking over, having led the Bantams to four wins, four defeats and a draw in his time in charge at Valley Parade.
He added: "Things have gone well, I appreciate that, and I've thoroughly enjoyed it and I'm hopeful that with the way the team performed on Tuesday night, the supporters are enjoying it.
"I think they can see some real progress, but I'm also realistic as well.
"I've managed at Conference level and other levels, and I'm not looking to put Bradford into the red ridiculously because of overspending.
"I feel though as with a sensible budget and with the sensible tools off the field, we could have a really, really good time."
Source: BBC Sport
Source: BBC Sport