While the guys we hired worked on the floors I worked in the basement. The basement was leaking mainly in one corner, but overall it was very damp and dark. We decided to paint the floor and the walls. For the floor we used BEHR 1-Part Epoxy Acrylic Concrete and Garage Floor Paint
Back to the wood floors... as I said the workers where doing a great job, but disaster struck one weekend night. While the floors where being worked on we sanded ans stripped the stairs and the stair rails. After a long day of work, we left the house in the evening to go back to the hotel. The Floor guys where still in the house working away. The next morning we entered the house and heard this terrible noise. It turned out to be water pouring through the house mainly in the living room.
We managed to clean up some of the mess with the help of the flooring guys and we called our insurance company, and they sent out a company. The company cleaned up the rest and dried the house out with a portable heater and lots of fans.
The water damage was significant we had to replace two ceilings, re-sand 4 rooms, paint 3 rooms including many wood windows. The insurance company covered everything.
I guess the most important thing to remember is if you have radiators in your house before you work with any large machines that vabrate significantly go around and tighten all the valves. It might even be a good idea to tighten them once a year. Below shows the before and after of the floors.