The 32-year-old had surgery last week and any deal with Albion was dependent on him recovering fully from surgery.
Now Baggies head coach Roy Hodgson will wait to see how Gera recuperates before pressing ahead with the deal.
Hodgson told the Wolverhampton Express and Star: "Zoltan's operation went well and now we've just got to see how he recovers.
"But we are very hopeful that he will recover fully and our medical staff will pass him fit and he will sign for us.
"Funnily enough, he should be fit around about the time he will be eligible to play."
Gera will be suspended for the first three games of the campaign after being sent off at the tail-end of the last campaign for his previous club Fulham.
Hodgson has also admitted interest in signing another former Albion player in Manchester United keeper Tomasz Kuszczak.
The Baggies chief is looking for a replacement for Scott Carson who has joined Turkish side Bursaspor.
Hodgson said: "We are in need of a goalkeeper and Kuszczak is one of the many names that we have considered."