What are the standard conditions?

Most purchase offers include two standard conditions:

A financing condition, which makes the sale dependent on the buyers' ability to obtain a loan commitment from a lender,

and

An inspection contingency, which allows buyers to have professionals inspect the property to their satisfaction.

As a buyer, you could forfeit your deposit under certain circumstances, such as backing out of the deal for a reason not stipulated in the contract.
The purchase contract must include the sellers' responsibilities, such things as passing clear title, maintaining the property in its present condition until closing and making any agreed-upon repairs to the property.