@selectedValue

<TelerikComboBox Data="@myDdlData" TextField="MyTextField" ValueField="MyValueField"
                 @bind-Value="@selectedValue"  OnChange="@MyOnChangeHandler">
</TelerikComboBox>

@code {
    int selectedValue { get; set; }

    IEnumerable<MyDdlModel> myDdlData = Enumerable.Range(1, 20).Select(x => new MyDdlModel { MyTextField = "item " + x, MyValueField = x });
    
    private void MyOnChangeHandler(object theUserInput)
    {
        Console.WriteLine($"COMBO: the models is now {selectedValue} and the handler received {theUserInput}");
    }

    public class MyDdlModel
    {
        public int MyValueField { get; set; }
        public string MyTextField { get; set; }
    }
}

Selected value: @selectedValue
<br />

<TelerikComboBox Data="@myComboData"
                 TextField="MyTextField"
                 ValueField="MyValueField"
                 Value="selectedValue"
                 ValueChanged="@((int value) => ValueChangedHandler(value))"
                 Placeholder="Select an item..."
                 ClearButton="true"
                 Enabled="@isEnabled"
                 Filterable="true">
</TelerikComboBox>

@code {
    public bool isEnabled { get; set; } = true;
    IEnumerable<MyDdlModel> myComboData = Enumerable.Range(1, 20).Select(x => new MyDdlModel { MyTextField = "item " + x, MyValueField = x });

    int selectedValue { get; set; } = 3; //usually the current value should come from the model data

    public async Task ValueChangedHandler(int value)
    {
        isEnabled = false;
        await Task.Delay(4000); //simulate network delay

        selectedValue = value;

        isEnabled = true;
    }

    //in a real case, the model is usually in a separate file
    //the model type and value field type must be provided to the dropdpownlist
    public class MyDdlModel
    {
        public int MyValueField { get; set; }
        public string MyTextField { get; set; }
    }
}

<TelerikComboBox Data="@MyList" @bind-Value="MyItem">
</TelerikComboBox>

@code {
    protected List<string> MyList = new List<string>() { "first", "second", "third" };
    protected string MyItem { get; set; } = "second";
}

@result
<br />
from model: @MyItem
<br />
<br />
<TelerikComboBox Data="@MyList" Value="@MyItem" ValueChanged="@( (string v) => MyValueChangeHandler(v) )" Placeholder="Choose something">
</TelerikComboBox>

@code {
    string result;
    private async Task MyValueChangeHandler(string theUserChoice)
    {
        result = string.Format("The user chose: {0}", theUserChoice);

        MyItem = null; // this should be enough

    }
    protected List<string> MyList = new List<string>() { "first", "second", "third" };
    protected string MyItem { get; set; } = "second";
}