Basement Question

We are basically complete novices to basement repair, so forgive the question if it's so simple! We're asking you so we are more knowledgable when dealing with contractors!
We live in a house built in 1979. Our basement has some water problems, which appear to be caused by small round holes in the basement wall about the diameter of a small pencil. A friend told us these could be rods used in the construction of the house that had rusted away. There are about 8 holes at two different heights, approximately 2 feet and 5 feet from the floor.
Can you help diagnose the problem? What would be the best way to repair the wall?
Thank you in advance!
MHM

[stevea]

It appears that those holes in your poured walls are rod ties. Many times these do rust out and then leak.

Sometimes simply sealing these holes will correct the problem. They can be surfaced seal with a fast setting epoxy or injected.

Sometimes however, once you seal these rod ties the water will go somewhere else (ie. where the floor and wall meets). It is important that you find out what the contractor will warranty before you decide to do the work.

Steve A