Here is another flexseal failure from Arlington, MA.
"The first picture which shows the side view you can see the gap where the precast stairs meet the foundation wall. The gap runs the whole width of the stairs. That's where the water is percolating up from due to our high water table.
When they cut the door opening there is a 6 inch height of the foundation wall still there. The interior door (taken off for now) sits on the basement floor so when you open it, you step up to the foundation step before stepping up to the first precast stair.
I have french drains on the interior of the basement (put in long before I moved in). I think we discussed that the grate drain would sit between the gap between the precast stair and foundation "step" which would then tie into the interior french drain.
We want to make sure that the water doesn't percolate up in fed into the interior french drain.
We'd also want to seal around the lag bolts holding the stairs to the foundation.
The end result is we want to make sure water never enters the basement through the gap or walls so we can finish our basement."