During inspection contingency, is it possible to back out on minor items in the inspection report?

Inspection Contingency is a 100% back out (free back out) for the buyers. They can back out using inspection contingency for anything, however small it may be, or even if it is just a change of mind.

Make sure, earnest money is not released to the seller before the contingency expires, else getting back money from seller can get tedious.

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