The parties to this agreement to convey real estate agree as follows: 1. Description of Property.A prospective buyer can use this form to submit an offer for the seller to accept or counter. THIS OFFER TO PURCHASE REAL PROPERTY (the "Offer") is entered into between. A Michigan residential purchase agreement is a contract outlining all the terms and conditions of a residential property sale between the buyer and the seller. Get a comprehensive understanding of Michigan real estate purchase and sale agreements with our indepth overview and free template. Michigan Free Letter of Intent ( LOI ) Template. Utilize our Letter of Intent to formally express your desire to buy a product or service. Offer a portion of the listing broker's commission to the brokerage firm producing the buyer while acting as a buyer's agent. 1. Identify the Buyer and Seller details.