Using a waterproof paint or coating to the inside of your basement will NOT stop moisture from moving "in" through the walls.

Here's what to do. First find out why the walls are wet. Is it only after a storm or is it seasonal when the air is warm and damp and the walls are cold. The problem may be condensation on the walls generated from bathrooms, kitchen, and laundry--not outside moisture moving inside. Sometimes a dehumidifier set on a low to moderate setting can reduce condensation (too high may actually increase moisture vapor coming through the walls) Reducing the amount of moisture in contact with the exterior walls through surface re-grading in your yard, and redirecting water from downspouts, can do a lot to help solve the problem of moisture migration into the basement. Try using flexible extension pipes on the ends of your downspouts and see if you don't notice a marked improvement!

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Question 3