You'll receive a form to fill out online, and you'll need to declare the assets you want to use for loan qualification. Personal Property Purchaser may elect to complete the purchase and sale and reserve any right to recover any damages arising out of the defect in title.This form provides the IRS with a detailed breakdown of how the purchase price is allocated across different asset categories. A michigan residential purchase agreement is a crucial document in the process of buying or selling a home. A mortgage lender will likely ask you for a list of documents. Each document serves its own purpose in the qualification process. Whether you're buying a primary residence or an investment property, an assetbased loan can help.