A financing condition protects you if the lender's final underwriting turns up something the pre-approval missed, such as a change in income, an appraisal that comes in low, or a problem with the specific property. A lawyer licensed through the Law Society of Saskatchewan can confirm exactly what waiving it exposes you to before you sign.
In a market where the Saskatchewan REALTORS Association reports 1.63 months of supply, some buyers waive conditions to compete, but a stronger and safer way to compete is often a clean offer with a firm closing date and no unnecessary requests, backed by a real pre-approval, rather than removing your own safety net.
A lawyer reviewing the offer before you sign is the standard way to understand exactly what you are giving up if you do choose to waive it.
Get your hand-reviewed valuation from Joel Dyck.