A lease can be written or oral. Purchase agreement is a standard lease with an added option for the tenant to purchase the property.We've compiled a list of all the landlord and tenant lease clause definitions that you should know before drafting a lease agreement document. This document summarizes a real estate listing agreement between a seller and brokerage agency in Michigan. THIS LEASE AGREEMENT is entered into on the day of , , between. Right of first refusal in real estate (ROFR) is a contractual clause that gives the right holder the first opportunity to make an offer to buy the property. Understand Fair Housing laws before you list the property, and run a credit check on prospective renters. A lease agreement is a legal document outlining the rental terms for either a commercial or residential property between the property owner and the renter. Renting out a commercial or residential property in Michigan? Understanding the Michigan real estate market and the demand for rental properties in the area.