This two-handle faucet looks like a stem faucet but operates by opening and closing in the opposite direction. The seat is attached to the bottom of the stem body. The washer attaches to the bottom of the spindle facing up. Opening the faucet moves the spindle downward, allowing flow between the seat and the washer.
Getting the parts
Chicago (shown in Steps 1-5) and Crane are among the companies that make this type of faucet. Be sure to get parts made specifically for your model. Washers may be different in shape, so a standard stem washer may appear to fit but will not properly seal. Repair kits typically have O-rings, seats, and washers, so you can replace all the nonmetal parts. Often, however, all you need is the washer.
Less than an hour for most repairs
Screwdrivers, adjustable wrench, groove-joint pliers, perhaps a handle puller
Shutting off water, dismantling a faucet, installing small parts
Shut off the water, close the sink stopper, and place a rag in the sink to catch any parts
Seat, washer, and O-rings for your faucet