Owner Smurthwaite stepped down as chairman after the club were relegated to League Two last season before rejecting a £1.25m takeover from two local firms.
Fradley told BBC Radio Stoke that he will discuss any potential sale in the next two weeks.
"I will ask the question but the answer needs to come from him," he said.
"Right from day one, I've separated that issue with the owner. His strategy will be his strategy and I'll leave that to him."
Smurthwaite resigned after Vale's four-year tenure in League One ended last May, saying he had "seriously damaged the club."
However, Fradley believes that leaving off-field issues to the owner has allowed the club to stabilise, but cannot give a definitive answer on any offers considered to sell the club.
"I think that has give us some stability to get things going and give the players confidence that they can join the club," he said.
"I haven't seen Norman for a while. I will do shortly but he hasn't mentioned anything to me (about selling). I can't give an answer."
Port Vale chairman Tony Fradley will meet with owner Norman Smurthwaite to clarify plans to sell the club.