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It would seem logical that waterproofing compounds should help solve your leaking problem. The fact is, waterproofing paints or other interior compounds are helpful only in cases of mild and occasional capillary seepage. Capillary waterproofing materials can be applied to either exterior or interior walls and floor surfaces. Please note that waterproofing paint is most effective if applied directly over cement; not existing painted walls. When properly applied, waterproofing compounds penetrate several inches into the concrete and close off capillaries or minor cracks by forming crystals when water shows up. It goes without saying that you should carefully read the label of any waterproofing product so you understand product's limitations and terms of any promised guarantee.