However seldom will a court or arbitrator order the purchase of a property. They normally require the payment for damages which failure to fulfill the contract has caused. Additionally real estate commissions may be due even if the sale is not completed. Also any court or arbitration costs would have to be paid.
Top 2 agent nationwide at Keller Williams Realty, the nations largest
Over 20 years experience
Over 1,000 home sales completed in Santa Clara and San Mateo Counties
As the others pointed out your question id podted in The California section, not Texas.
In general you must have a specific contingency written into the Contract to preserve your right to cancel the contract within the period of the Contingency.
Essentially, I recommend that you make certain that your contract includes a Contingency period for you to receive and review and approve the HOA documents.
On another hand, no one can force you to complete the transaction. It may cost you some money but there is always way out - talk to your REALTOR about your specific situation.