What is the primary purpose of a survey in real estate transactions?

The primary purpose of a survey in real estate transactions is to determine boundaries, size, and easements. A survey provides a detailed and accurate representation of a property's dimensions and topography, which is crucial in establishing the specific boundaries of the land. This delineation is important for various reasons, including avoiding disputes with neighboring property owners over boundary lines and ensuring that buyers understand exactly what they are purchasing.

Additionally, a survey identifies any easements that may exist on the property, which are key considerations for property use, as they grant certain rights to third parties over a portion of the land. Understanding these factors is essential for both buyers and sellers to facilitate informed decision-making during the transaction process.

In contrast, assessing the market value is typically the role of appraisals, while the condition of the structure is evaluated through inspections. Identifying potential buyers is more related to marketing strategies rather than the technical aspects addressed by a survey.