We recently got a call from a brand new homeowner. They noticed water coming in the basement at the seam between the stone foundation and a poured concrete foundation.
The homeowners noticed that where the previous homeowner has painted or put a skim coat on the stone foundation, there was water coming in through that. They painted it right before they sold the house.
We felt the wall, and we could push our finger into the skim coat and pull down sheets where that had that "magic" water stopping paint had been applied to stop the water. We could then get to the areas that were leaking between the stones. We were able to fix it with a process of using oakum and polymer.
The house had been inspected before the sale, but the home inspector had completely missed this. If you are looking at a new wall, be sure to feel in between the stones of a painted stone foundation.