O’Connor has accepted a loss of around £350,000 after recently flogging the five-bedroom home in an exclusive East Lothian estate.
The striker paid £1.3m for the property in Archerfield, near North Berwick, in 2008, but was forced to accept just £950,000 for it last month.
He recently moved to Russian club Tom Tomsk after Hibs failed to extend his contract.
O’Connor, 29, was ordered to carry out 200 hours’ community service after being found guilty of possessing cocaine and attempting to abscond from police officers during an incident in the city centre in May 2011.
The dad-of-two also appeared in court earlier this year charged with attempting to defraud his insurance company after crashing his £100,000 F430 Ferrari F1 in April 2011.