Question - Signed a purchase agreement contingent on sale of my current home

My husband and I sign a purchase agreement on a new build contingent on the sale of our current home. We are starting to have some second thoughts but don’t know that we can really back out at this time. The purchase agreement is contingent on the sale of our current home. If we can’t get what we want for our house, can we not accept any sale offers and back out that way? I understand we would lose our earnest deposit.