Once every condition is removed and the contract firms up, backing out becomes far more serious. The seller can pursue the buyer for damages through Saskatchewan's Court of King's Bench, including the difference if the home later resells for less, and a lawyer's review at that stage, generally $800 to $1,500 in fees, is essential before deciding anything.
The safest way to preserve your ability to exit is never letting a financing or inspection condition lapse before you are genuinely satisfied, since removing a condition early to look more competitive in a bidding situation gives up your legal exit at the same time.
If you are already past firm and reconsidering, talk to a lawyer before you talk to the seller. Get your hand-reviewed valuation from Joel Dyck.