Place the table on a drop cloth or old sheet in a well-ventilated area such as an open garage. This will prevent you from inhaling dust from sanding and paint fumes, and will ensure that the floor of your home isn’t accidentally damaged.
Strip any paint and sealant on the tabletop using a chemical stripper. Follow the instructions on the product label. Typically, you brush on the chemical stripper, wait a few minutes, and then use a putty knife to scrape away the old paint and sealer.
Use an electric sander to sand down the surface of the table until it feels smooth to the touch. You can also use sand paper, although the job will take considerably longer.
Place a level on the table. Since water damage can warp wood, you may find that the tabletop is higher in some areas than other. Use wood putty to fill in any dips or cracks in the wood, and fix any high points through additional sanding. Brush off the wood dust that has accumulated on the tabletop.
Stain or paint the tabletop following the instructions provided on the product label. Allow the paint or stain to dry completely (usually 24 hours). Apply a second coat and wait for that to completely dry as well. The second coat ensures that even if water eventually makes it through your sealer, the actual wood still remains protected.
Varnish the furniture using a sealant with a waterproof finish. Follow the product instructions for proper application. Allow the varnish to dry completely before moving the table back indoors.