investing...

I am a businessperson and I work very hard to earn money. I saved enough money through investing to buy a new property. This time I was offered with a co-op property. Does the financing contingency in a contract to buy a co-op allow the buyer to back out of the deal if the appraisal of the apartment does not come in at the contract price? I am asking this to make sure I will not be wasting my savings.