Do I lose my deposit if I back out of a Woodstock home purchase?

Backing out of a Woodstock purchase after signing keeps your earnest money only if a contingency in the contract, like financing, inspection or appraisal, actually protects that exit and you follow its deadline. Walking away after those contingency deadlines pass, without a contract-based reason, puts the deposit at real risk of going to the seller instead. Reading the contingency timelines carefully at signing, with help from your agent or an attorney, is what actually protects the money.