A Michigan land contract formalizes the terms governing a vacant land purchase and sale agreement between two parties. THE SELLER AGREES AS FOLLOWS: (a) To sell and convey to the Purchaser the following described property: Land situated in the. of.Description of Property. Seller agrees to sell to Buyer and Buyer agrees to purchase from Seller certain improved real property commonly known as. After Closing, Buyer shall receive an owner's standard form policy of title insurance insuring marketable title in the Property to Buyer in the amount of the. How do I make a land sale agreement? Filling out this agreement is straightforward. A land contract is a contract between a buyer and private seller for real property that has a home on it. This file contains the Michigan Land Purchase and Sale Contract which outlines the agreement between buyers and sellers for real estate transactions. A land contract in Michigan grants buyers an equitable title to gain immediate control over the property.