How does this contingency work in a contract?

[Carl Flint]

Hi

This is all hypothetical... I'm just curious to know how this aspect of closing on a house works.

If I write in a 10 day inspection contingency in my contract does this give me the ability to back out of the contract for any reason?

For example, lets say I'm wholesaling a house. I have a contract with a seller but can't find a cash buyer (and I can't purchase the house myself) can I back out of the contract on day 9 to save my earnest money?