Have posted this in the building a home forum, but found this section and figure it's more appropriate here:

We are planning on sealing the exterior of our basement DIY. (This is a new construction)

The lot is well sloped and drainage will not be a problem. DH and I plan on sealing the outside with Drylok or Thoroseal and then covering that with the peel and stick plastic with tar backing. This may be a bit overkill, but safer now than later.

I will also use a generous amount of gravel and have the drainpipe at the base of the footer. The question I have is whether to use the Drylok or Thoroseal for the first coat, any suggestions?

Here is a link that might be useful: House Blog