"Without giving away too many secrets, we're not that far away. We're just hoping to get to the next stage now and something can happen," Lorimer said to BBC Radio 5 Live.
Everton entered the race for Smith with an offer of £7m yesterday, while Newcastle and Middlesbrough have also kept in contact with Elland Road to monitor the situation.
In a slight twist to the transfer, David Bellion, who joined Manchester United last summer from Sunderland, is being offered as a makeweight in a cash-plus-player bid with Leeds getting the forward as well as £6.5m.