A seller comparing several offers cannot verify financing strength directly, so a larger deposit, backed by proof the funds are actually available, reads as a proxy for how likely the buyer is to actually close, which matters more to a seller than the headline purchase price alone in a tight market.
A strong deposit works best paired with fewer and tighter conditions, since a seller weighing offers is looking at the whole package, price, deposit, conditions and possession date together, not any single number in isolation.
Joel Dyck helps buyers structure the whole offer, deposit included, to actually win in a competitive Saskatoon market. Get your hand-reviewed valuation from Joel Dyck.