4500 is a steal as im in the middle of a 5 speed swap and its time consuming. Id rather be playing call of duty or prepping my sailboat for the spring launch. Its @1500 just for the tranny conversion kit and you still need pedals, tune, install and bsm/timing belt addressed.
Typically you're going to pay at least $1500 for a nice, clean, rust free B5 sedan with a faulty automatic or TC issue. The swap parts will run you $1800-$2000 plus you'll spend at least $1200 if you're having the work done. A proper clutch will run $900-$1000, you'll have $400 in the tune, $1000 cam, $1000 bsm delete and then you'll have a rock solid reliable B5 like this.
Mine is a southern lived, rust free, original paint GL with a lot of life left in it. Have the driver's seat repaired, get the fluids and filters set to your schedule and start enjoying.
For the question above - yes, the rear seats fold - you can see the hinges in the picture with the trunk open.
Thank you Windex,
-Jason