NSP-1 First Look Program. . Nobody said it would be easy!. BUT. We Can Do it Together!!. NSP-1 First Look Program. . Terms and Acronyms used in the Foreclosure Process. . Appraised ValueThe value of a property determined from an appraisal. Kentucky\'s NSP guidelines require that all NSP-assisted acquisitions must be at least a 1% discount from the appraised value (though more than 1% would be great). The appraisal must have been done within 60 days of the final offer to purchase..