Waterproofingâ€”Treatment of a surface or structure to prevent the passage of water under hydrostatic pressure. Waterproofing describes making an object waterproof or water-resistant. LIQUID APPLIED. ADVANTAGE: Relatively easy to detail around penetrations and other transitions, since in liquid state, the membrane can easily form itself to any shape. DISADVANTAGE: Through expansion and contraction, it will crack. It moves with the building, instead of by itself.