Take your new faucet and wrap the threaded end with 3-4 layers of Teflon tape. Wrap the tape in a clockwise direction as you look at the end of the fitting; this prevents the tape from unwrapping as you tighten it. Alternatively, apply a layer of pipe joint compound (pipe dope) to the threads. Insert the new faucet from the outside of the house through the wall opening until the threads meet the interior pipe fitting. Make sure the spout on the outside is oriented correctly (pointing downwards) and that the faucet body has a slight downward pitch to allow for proper drainage. From the inside, hand-tighten the faucet into the fitting. Then, use a pipe wrench to tighten it securely. As before, use a second wrench to hold the pipe fitting stationary to prevent damage. Do not overtighten; it should be snug plus about a half to a full turn.