Escrow & Title
The purpose of a survey in a real estate transaction is to:
ADetermine the market value of the property
BIdentify the exact boundaries, size, and any encroachments or easements✓ Correct
CVerify the structural condition of all improvements
DConfirm the accuracy of the title insurance policy
Explanation
A property survey precisely establishes the boundaries of the property, its acreage, and identifies encroachments, easements, encumbrances, or other matters visible in the field. Lenders often require surveys to confirm the property's boundaries before closing.
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