I'm not to sure basswood is the best wood to do a lime wash on, its not great to do a stain and sand back to bring out the grain it doesn't take dyes very well I usually sand a basswood with no finer than 120grit, if you want to dye or stain it so the wood would hold on to the dye but when you clear it you haft to apply more coats so it covers the sanding scratches, if I was going to do that sort of finish the best wood would be Ash as it has a wider grain and stains and dye well