Terms beyond price often decide it: a firmer condition period, a larger deposit, or a possession date that matches what the seller actually needs can beat a slightly higher price with weaker conditions attached. Saskatchewan REALTORS Association listing data shows this pattern more often in tight-supply months than in slower ones.
Buyers submitting into a highest and best call do not get to see competing offers, so the same blind-guessing problem applies here as with an escalation clause, and a buyer's agent who knows the specific listing's activity level is the best source of guidance on where to land.
Sellers are not required to call for highest and best at all, and many strong offers are simply accepted the moment they arrive. Get your hand-reviewed valuation from Joel Dyck.