Should you Make an Offer even if you're not ready to buy?

[Ibrahim Yamini]

I saw a town house on redfin for $129K but the property history is strange.

It was sold in 1972 for $18,095.

Then it was sold in 1974 for $18133.

It was listed for sale for $126.9K just last month.

It sold on May 12th but the price isn't shown.

It was relisted on May 17th for $129.9K.

What's going on with this property?

I figured since its bouncing all over the place, I can put an offer in at $100K and see what happens.

Problem is, my refinance isn't complete yet, so I won't have access to the capital I need for the down payment for a month or two.

Should a make an offer now?  

Or is the buying and selling history of this property a bad sign?