Caulking on a slab foundation?

There is caulking all around the ground of a slab foundation house that I'm thinking of purchasing. Some people are telling me that this caulk is there to keep the driveway/sidewalk from slipping away from the house and it's no big deal, some are telling me that if the driveway/sidewalk was slipping away, that this caulk isn't going to stop it and there is a huge foundation problem and that I should stay far away from the house. Any advice?