What a cash buyer actually pays at closing is legal fees, typically $800 to $1,500, plus any adjustments for prepaid property tax and utilities. A buyer who skips financing also skips the CMHC, Sagen or Canada Guaranty insurance premium and the associated PST on that premium, since that cost only applies to an insured mortgage.
The one place a cash offer can cost more is negotiating power in reverse. In a market with tight supply, a seller comparing a clean cash offer against a financed one may accept a slightly lower cash price in exchange for a faster, more certain condition period.
If a rumour about a Saskatoon closing tax reached you from somewhere else, it was likely describing a different jurisdiction, not this one.
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