After using a recovery seed, how does my wallet find my balance on the blockchain?

Hi,
Doesn't the recovery seed restore the private key only? And if so, how does that lead to my wallet telling me my balance on the Blockchain? How does it know from millions of public keys/addresses on the Blockchain which are associated with the private key?
Does it scan millions of addresses on the blockchain checking which can decrypt my digital signature?
If I use my 12/24 word recovery seed to restore my private key on some hot software wallet, won't it take a long time to see my balance? Or is it immediate?

Hope this makes sense,
Thanks in-advance

submitted by /u/NicestDude
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