We present a comprehensive numerical study on the kinetics of phase transition that is characterized by two nonconserved scalar order parameters coupled by a special linear-quadratic interaction. This particular Ginzburg-Landau theory has been proposed to describe the coupled charge and magnetic transition in nickelates and the collinear stripe phase in cuprates. The inhomogeneous state of such systems at low temperatures consists of magnetic domains separated by quasimetallic domain walls where the charge order is reduced. By performing large-scale cell dynamics simulations, we find a two-stage phase-ordering process in which a short period of independent evolution of the two order parameters is followed by a correlated coarsening process. The long-time growth and coarsening of magnetic domains is shown to follow the Allen-Cahn power law. We further show that the nucleation-and-growth dynamics during phase transformation to the ordered states is well described by the Kolmogorov-Johnson-Mehl-Avrami theory in two dimensions. On the other hand, the presence of quasimetallic magnetic domain walls in the ordered states gives rise to a very different kinetics for transformation to the high-temperature paramagnetic phase. In this scenario, the phase transformation is initiated by the decay of magnetic domain walls into two insulator-metal boundaries, which subsequently move away from each other. Implications of our findings to recent nano-imaging experiments on nickelates are also discussed.