A Yes, you can withdraw your offer. Until you exchange contracts, you're free to change your mind about your offer without any financial penalty. However, to be fair to the people selling the property, you should let them know as soon as possible. The buyer of a home can withdraw an offer at any time until the seller accepts it.
After that, the seller can owe a commission to the broker and can sue the buyer for breach of contract to recover the cost of that commission. You can use the form if you changed your mind during the negotiation phase, before acceptance and delivery by the seller, for an offer or counteroffer. Once again, the purchaser can withdraw this counteroffer at any time before their signed and signed acceptance is delivered to them. If you simply changed your mind about buying a home that's already under contract, you'll have a much harder time than if one of the contingency clauses weren't met.
Sellers who withdraw from a binding contract could be sued by buyers, either for damages or for specific enforcement. JTC But if buyers or sellers withdraw from contract ++ for a reason not foreseen in the contract, serious financial and legal repercussions can result.