How much does a home inspection cost in NJ? And should I pay extra to get a licensed profession (engineer or architect) to complete the inspection?

Call and research any home inspector you choose to use. In NJ a home inspetor must be licensed by the state and has completed a great number of hours in study and on the job.  However, the reports you get from inspector to inspector are quite different. One may just give a brief written report while another may give details and attach pictures for your attorney to review. Don't just consider cost when choosing an inspector for your home. It's a big investment.  You can find a list of a few inspectors in your area at http://www.JustJerseyRealEstate.com/inspections.htm.