If you don't perform an inspection during the inspection then, in my opinion, you have waived your right to back out under that clause. You may be putting your deposit at risk.
That being said you must have your REALTOR or an attorney explain the possible ramifications as it applies to you and the contract you signed.
As a somewhat of an aside several years back I had a client have a change of heart about a property he was under contract to purchase. I explained this to the listing agent and said my buyer didnt want to pay for an inspection but if he had to he would not be pleased with whatever the report might reveal and he would back out. The seller understood the "cold feet syndrome" and let him out of the contract and we obtained a release and cancellation and the deposit was returned to my buyer. The seller immediately received another offer that quickly went to closing and several months later my buyer found another home that he absolutely loves.
JOAN LORBERBAUM MOORE
Broker Associate, GRI
9858 Clint Moore Road
Boca Raton, FL 33496